Drug major Dr Reddy's Laboratories has announced its results for the quarter ended December 2010. The company has reported a consolidated net profit of Rs 273 crore on revenues of Rs 1,899 crore compared to a loss of Rs 521.7 crore on revenues of Rs 1,730 crore in the same period last year. The firm has reported its Q3 results in accordance with the International Financial Reporting Standards. The company had seen an extraordinary outflow of Rs 860 crore on account of Betapharm in Q3FY10.
Speaking to CNBC-TV18 on the quarter gone by, GV Prasad, Vice Chairman & CEO, Dr Reddy's Laboratories said operating expenses have increased due to one-time litigation costs. The company, which is the seventh largest generic pharma firm in Russia has seen good ramp-up in volumes in the branded generic business. Prasad said although some of the CIS markets have seen pressure, the Russian market has however grown at a healthy pace. Commenting on the low cost environment prevailing in Germany, he said the company will need to adapt to it going forward. He said the Arixtra generic is awaiting approval from the US FDA. Below is a verbatim transcript of the interview. Also watch the accompanying video. Q: Can you just first start with the margins. The companyDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
