INTERVIEW-Dr Reddy's says 2007/08 profit to fall
MUMBAI May 18 (Reuters) - India's Dr. Reddy's Laboratories (REDY.BO) expects net profit and revenue to fall in 2007/08 from the previous year, when it gained from one-time opportunities, Chief Executive G.V. Prasad told Reuters on Friday.
The 2006/07 fiscal year's performance was lifted by gains from a 180-day exclusivity period for the generic version of GlaxoSmithKline Plc's (GSK.L)(GSK.N) blockbuster Zofran and revenue of about $370 million from authorised generics, Prasad said. "Revenue will fall especially when you consider the 180-day exclusivity will wind down," he said in a telephone interview after the company announced its earnings for the January-March quarter, the fourth in the fiscal calendar.
Asked if net profit would fall this fiscal year, he said: "Obviously. We had some very special opportunities, they are not likely to recur. So net profit will be a lower number.
"We had a good run in all our businesses. Of course, our biggest earner was the Zofran 180-day exclusivity."
He said core business would grow robustly in the current fiscal year.
((Reporting by Himangshu Watts, editing by Charlotte Cooper; Reuters Messaging: himangshu.watts.reuters.com@reuters.net +91 22 6636 9030)) Keywords: DRREDDYS OUTLOOK/
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