Pharma major Dr Reddy’s Laboratories is expected to post a decline in net profit in the second quarter of current fiscal year ended September 30, 2024 driven by a tardy growth in North America market with an increase in the top line in the numbers to be announced on Tuesday,
According to analysts the net profit could be down by about 5 to 7 percent on a year-on-year basis. In the second quarter of FY24, a strong growth in the US and European markets and favourable forex situation led the Hyderabad-based company to a net profit of ₹1,480 crore showing a growth of 33 per cent year on year.
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It registered a revenue of ₹6,880 crore in the quarter as against ₹6,302.70 in Q2 of FY24 crore in the comparable quarter of FY23 registering a growth of 9 per cent year on year.