Dr Reddy's Q1 Profit Up 1% to Rs 1,410 cr

New Delhi, Jul 23 (PTI) Dr Reddy's Laboratories on Wednesday reported a 1 per cent increase in consolidated net profit to Rs 1,410 crore during the Juen quarter.

The Hyderabad-based drug major reported a net profit of Rs 1,392 crore in the year-ago period.

Revenue increased to Rs 8,545 crore in he period under review from Rs 7,673 crore a year earlier.

"We delivered double-digit growth this quarter over the same period last year, reflecting our strength in branded markets and positive momentum in the Nicotine Replacement Therapy portfolio," Dr Reddy's Co-Chairman & MD G V Prasad said.

The pricing pressure on Lenalidomide is expected to intensify in the US generics market, he noted.

"We remain focused on strengthening our base business by delivery of our pipeline assets, improving overall productivity and business development," Prasad said.

Shares of the company ended 0.58 per cent up at Rs 1,247.55 apiece on the BSE.