DRL profit drops by 29 per cent in Q3

Hyderabad: Dr. Reddy’s Laboratories on Thursday posted a 29 per cent drop in net profit in third quarter of fiscal 2018, owing to lower sale realisation in generics and higher tax adjustments in the US.

In Q3 FY18, the drug maker reported a profit Rs 334 crore compared to Rs 470 crore in the yearago period, a decline of 29 per cent. The revenue, however, has risen by a marginal three per cent in the period under consideration compared to the yearago quarter.

DRL is one of the several companies that have been facing heat in its key US market. As natural fallout, the company has slashed its expenditure on R&D by six per cent, while increasing its spending on selling, general and administrative expenses by the same per cent.