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BSE   17 Oct 17 | 03:05 PM

2385.45 -11.8 (-0.49%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 500124
Face Value: N.A.

NSE   17 Oct 17 | 02:54 PM

2387.70 -15.8 (-0.66%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: DRREDDY
Performance
1 Week : Rs 2,410.25 (-1.03%)
1 Month : Rs 2,210.25 (7.93%)
1 Year : Rs 3,027.60 (-21.21%)
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Dr Reddy's hits 52-week low ahead of Q4 results

SI Reporter / Mumbai 12 May 17 | 10:48 AM

Dr Reddy’s Laboratories hit 52-week low of Rs 2,554 on BSE in intra-day trade ahead of its January-March quarter (Q4FY17) results today.

Since February 3, post October-December (Q3FY17) results, the stock of drug Company has underperformed the market by falling 19% as compared to 7% rise in the S&P BSE Sensex.

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Dr Reddy's had reported 19% year on year (YoY) drop in net profit at Rs 470 crore in Q3FY17 against Rs 579 crore during the corresponding quarter in FY16. Revenues for Q3FY17 dropped 7% to Rs 3,707 crore as against Rs 3,968 crore in Q3FY16.

Edelweiss Securities expects Dr Reddy’s US revenue (USD 236 million) to decline 16% YoY in Q4FY17, due to increased competition in Dacogen, Valcyte and Vidaza and also down 4% QoQ due to lack of launches.

“Russia/CIS revenues are likely to up 10% YoY in CC and currency up around 26% YoY. Expect growth in India to be mellow at 12% YoY. Gross margin to come back to around 56% level after Q3FY17's abnormal margin that was driven by seasonality of injectables," the brokerage firm said in Q4 results preview.

“Dr Reddy’s is likely is likely to deliver a weak set of numbers due to base effect, capacity constraint, litigation issues and increased competition in the US", ICICI Securities said in Q4 results preview.

Dr Reddy’s said on April 28, that the US Food and Drug Administration (USFDA) issued a Form-483 with 11 observations after inspecting its manufacturing unit-3 at Bachupally in Hyderabad.

Earlier, on March 8, the company said the USFDA issued a Form 483 with 13 observations for the company’s formulation manufacturing facility at Duwada, Visakhapatnam.

At 10:44 am; the stock was down 1% at Rs 2,563 on BSE as compared to 0.17% decline in the benchmark Senex. A combined 200,441 shares changed hands on the counter on BSE and NSE so far.

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