Dr Reddy's Q1 net down 69% amid lenalidomide, semaglutide issues
Business
Dr Reddy's Laboratories just posted a sharp 69% drop in net profit for April-June, with numbers falling to ₹434 crore from last year's ₹1,417 crore.
Revenue also slipped by 6%.
The main reason? Lower sales of lenalidomide (a cancer drug) and some unexpected issues with semaglutide API.
G V Prasad confident on growth
Even with this rough quarter, Co-chairman & MD G V Prasad says their core business is still growing well across key markets.
He's confident about the company's focus on new medicines and innovation, aiming for steady long-term growth.