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Dr. Reddy's Labs Slips To Loss In Q3

Dr. Reddy's Laboratories Ltd. (RDY) reported that its third-quarter net loss was $80 million or $0.48 per share compared to profit of $68 million or $0.41 per share in the prior year. The latest-quarter results were impacted due to trigger based impairment charge taken on a few products including gNuvaring.

Quarterly revenue grew to $614 million from $540 million in the previous year.

Sales for the quarter was 43.8 billion Indian rupees with a year-on-year growth of 14%.

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