October 26, 2018 / 9:32 AM / 2 months ago

India's Dr. Reddy's Q2 profit surges nearly 70 pct

Oct 26 (Reuters) - Indian drugmaker Dr. Reddy’s Laboratories posted a 69.7 percent jump in second-quarter profit on Friday, helped by new product launches.

Net profit rose to 5.18 billion rupees ($70.63 million) in the quarter ended Sept. 30, from 3.05 billion rupees a year earlier, the company said here

That handily beat analysts’ expectations of 3.52 billion rupees, according to Refinitiv data.

Net sales rose 5.6 percent to 36.87 billion rupees. ($1 = 73.3350 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru, Editing by Sherry Jacob-Phillips)

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