Tue, 13 May 2014 15:30:00 GMT | By The Hindu Business Line

Dr Reddy's Labs net profit down 15.6% at Rs 486 cr

Total revenue of Hyderabad-based company, however, increased marginally to Rs 3,480 crore from Rs 3,339 crore


Dr Reddy's Labs net profit down 15.6% at Rs 486 cr (© AP)

Hyderabad: Pharma major Dr Reddy’s Laboratories Ltd’s consolidated net profit has decreased 15.6 per cent to Rs 481 crore in the fourth quarter ended March 31, 2014 compared with Rs 570 crore in the year-ago period.

Total revenue of the Hyderabad-based company, however, increased marginally to Rs 3,480 crore from Rs 3,339 crore.

For the full year ended March 31, 2014, the company has posted Rs 2,151 crore net profit (Rs 1,677 crore) marking a 28 per cent increase on account of higher generics sales in North America, among others, the company informed the BSE.

Revenues increased 14 per cent to Rs 13,217 crore (11,626 crore).

Management changes

The board of directors has nominated K Satish Reddy, son of founder Chairman K Anji Reddy, as Chairman of the board. Previously he was Vice-Chairman and Managing Director.

G V Prasad, who was previously Chairman and Chief Executive Officer, will continue to be the CEO. He has also been appointed as co-Chairman and Managing Director.

Final dividend

The board has recommended a final dividend of Rs 18 (360 per cent) per equity share of Rs 5 face value for the financial year 2013-14.

The company’s scrip shed 3.94 per cent to trade at Rs 2,608 in the afternoon session on the BSE on Tuesday.

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