MUMBAI May 13 Dr. Reddy's Laboratories Ltd
, India's second-largest drugmaker by sales, on Tuesday
posted a 25 percent rise in quarterly net profit, but fell short
of analysts' estimates due to a rise in expenses.
Net profit for the January-March quarter was 4.71 billion
rupees ($78.68 million), compared with 3.78 billion rupees in
the same period a year ago. Analysts on average expected a
profit of 6.1 billion rupees, according to Thomson Reuters data.
Dr. Reddy's, a leading player in India's $14 billion generic
drugs industry, posted revenue of 25.32 billion rupees, up 17
percent from the prior year.
Shares in the Hyderabad-based company, valued at nearly $8
billion, fell 3 percent to 2,650 rupees on Tuesday after the
earnings, while the main Mumbai market was up 2
percent.($1 = 59.8650 Indian Rupees)
(Reporting by Zeba Siddiqui in Mumbai; Editing by Matt