Indian drugmaker Dr Reddy's posts quarterly profit slump
12/05/2026 12:15
HYDERABAD, May 12 (Reuters) - Indian drugmaker Dr Reddy's REDY.NS reported an 86% slump in quarterly profit on Tuesday, hurt by pricing pressure and increasing competition in its key U.S. market. Consolidated net profit tanked to 2.21 billion rupees ($23.1 million) in the quarter ended March 31, from 15.93 billion rupees year ago. Analysts, on average, had estimated profit to fall to 9.25 billion rupees, per data compiled by LSEG. The results mark the company's second consecutive quarterly decline in profit. ($1 = 95.6275 Indian rupees) (Reporting by Rishika Sadam) ((Rishika.Sadam@thomsonreuters.com;))
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