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Dr Reddy's share price declines 5% post Q4 earnings performance: Net profit declines 3% sequentially
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₹1,307 crore for the quarter ended March (Q4FY24), rising 36% year-on-year over ₹159.2 crore in the year ago quarter. However the net profit was 3% lower sequentially compared to ₹13,738 crore seen in the December'2023 quarter.
Dr Reddy's North America sales contributing 45% to overall revenues though grew 29% year-on-year to ₹3262.6 Crore , however the same was 3% lower sequentially. Dr Reddy's sales in the US market has been driven by the launch of multiple myeloma treatment drug Revlimid generics, nevertheless contributions are likley to have peaked with entry of competitors and thereby declining sequentially.
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