Dr. Reddy’s Q1 net plunges 69% to ₹435.6 cr on lower revenue
Dr. Reddy's Laboratories reported a 69% year-on-year decline in consolidated net profit to ₹435.6 crore for the June quarter, primarily due to reduced sales of the cancer drug lenalidomide. The company also faced a ₹239.7 crore provision related to a recent quality issue with the weight loss drug Semaglutide, which further impacted revenue. The significant drop in profit highlights ongoing challenges for the generic drugmaker in a competitive market.