Plus   Neg

Dr. Reddy's Laboratories Q4 Profit Rises

Dr. Reddy's Laboratories Ltd. (DRREDDY,500124,RDY) Friday said its fourth-quarter profit rose to $63 million or $0.38 per share from $44 million or $0.26 per share last year.

Revenues for the quarter rose 14% to $581 million from $511 million last year.

Commenting on the results, CEO and Co-chairman, G.V. Prasad said, "It has been a good year with a significant turnaround in the financial performance and steady progress on the quality front."

"Looking ahead, we will focus on profitable growth, continue the emphasis on operational excellence and drive innovation to deliver value to patients and healthcare systems worldwide."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
International Business Machines Corp. and Cúram Software, acquired by the tech giant in 2011, have agreed to pay $14.8 million to settle alleged violations of the False Claims Act, the Justice Department said in a statement. According to the DOJ, IBM and Cúram allegedly made material misrepresentations to the State of Maryland during a contract award process in 2011 and 2012. Lyrics website Genius Media Group Inc. has accused Google of copying some song lyrics directly from its website without permission, for the tech giant's search results. Genius told the Wall Street Journal that it is seeing falling traffic for the past several years as Google has been publishing lyrics in search pages on its own platform, with some of them lifted directly from the Genius website. CVS is planning to invest $10 million to create awareness among youth against the ill effects of e-cigarette. Over a period of next five year, the foundation would invest $50 million, aiming to achieve "nation's first tobacco-free generation." The "Be The First" campaign will also partner with American...
Follow RTT