Dr Reddy's slips as Q3 profit drops 29%
15th February 2013 01:18 PM
Dr Reddy's Laboratories, an integrated global pharmaceutical company, fell on Friday after it reported a fall of 29.17% in consolidated net profit to Rs 3.63 billion for the quarter ended Dec. 31, 2012 as compared to Rs 5.13 billion in the same period last year.
Consolidated net sales of the company increased 3.47% at Rs 28.65 billion for the quarter ended Dec. 31, 2012 from Rs 27.69 billion in the year ago period. Gobal research firm Bank of America-Merrill Lynch downgraded its rating on the stock to 'neutral' from 'buy'. Shares ofthe companyare trading at Rs 1,836, down Rs 42.15, or 2.24% at the Bombay Stock Exchange (BSE) on Friday at 11:39 a.m.The scrip has touched an intra-day high of Rs 1,875 and low of Rs 1,829.10. The total volume of shares traded at the BSE is 11,226.In the earlier session, the shares lost 1.44%, or Rs 27.45, at Rs 1,878.15. Currently, the stock is trading down 6.74% from its 52-week high of Rs 1,968.60 and above 20.16% over the 52-week low of Rs 1,528.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 1,856.50 21.65 1.17 1 Month 1,926.05 (47.90) (2.49) 3 Months 1,757.35 120.80 6.87 6 Months 1,670.05 208.10 12.46 1 Year 1,620.35 257.80 15.91 Note: Based on previous day closing price.
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