Dr Reddy's shares tank 5% after Q3 earnings failed to cheer investors

New Delhi: Shares of Dr Reddy’s Laboratories on Friday ended 5 per cent lower after the company's third-quarter earnings failed to cheer investors.

The stock tanked 5.01 per cent to settle at Rs 1,224.70 apiece on the BSE. During the day, it dropped 6.65 per cent to Rs 1,203.60.

At the NSE, it slumped 4.90 per cent to Rs 1,226.20. Intra-day, the stock declined 6.66 per cent to Rs 1,203.50.

Its market valuation eroded by Rs 5,399.33 crore to Rs 1,02,187.12 crore.

In traded volume terms, 1.68 lakh shares of the firm were traded at the BSE and 70.82 lakh shares on the NSE during the day. Dr Reddy’s Laboratories on Thursday said its consolidated net profit increased 2 per cent to Rs 1,413 crore in the third quarter ended December 31, 2024.

The Hyderabad-based drug major had reported a profit of Rs 1,379 crore for the October-December period of last fiscal.

Its revenue increased to Rs 8,359 crore from Rs 7,215 crore a year ago, Dr Reddy's Laboratories said in a statement.