Dr. Reddy’s Laboratories shares edged higher in morning trading Nov. 2, with two financial publications showing gains below 0.3% in separate snapshots, though later prices on one page conflicted.
Business Standard listed the stock at ₹1,353.55, up ₹3.35, or 0.25%, at 10:41 p.m. ET Nov. 1 (03:41 UTC Nov. 2). The Economic Times later reported ₹1,355.80, up 0.29%, at 1:16 a.m. ET Nov. 2 (06:16 UTC).
The Economic Times’ liveblog then showed different readings seconds apart. An update at 1:36:26 a.m. ET (06:36 UTC) put the shares at ₹1,358, up 0.45%; the page’s quote panel showed ₹1,354.30 at 1:36:33 a.m. ET.
In results released Oct. 23 for the quarter ended Sept. 30, Dr. Reddy’s reported consolidated revenue of ₹86.708 billion, down 1.5% year over year but up 7.4% from the previous quarter. EBITDA, or earnings before interest, taxes, depreciation and amortization, was ₹17.828 billion, equal to 20.6% of revenue. Net profit attributable to shareholders totaled ₹9.25 billion.
Regional results varied. North American revenue fell 23% year over year to ₹24.89 billion, primarily because of lower lenalidomide sales, the company said. Revenue in India rose 17% to ₹18.508 billion, while emerging markets revenue increased 24% to ₹20.595 billion. Dr. Reddy’s attributed India’s growth to new brands, price increases, higher sales volumes and recently acquired portfolios.
The company said its first-quarter results included a ₹2.397 billion provision for inventory and related costs tied to semaglutide’s active pharmaceutical ingredient. G V Prasad, the company’s co-chairman and managing director, described overall business conditions as improving and cited a margin above 20%.
The available sources do not establish that the results drove the Nov. 2 share move. In earlier trading, shares were reported above the ₹1,266.90 resistance level, according to EconoTimes’ Oct. 26 coverage.
