Dr Reddy’s net up 89 percent in 2008-09

May 18th, 2009 - 7:01 pm ICT by IANS  

Hyderabad, May 18 (IANS) City-based drug major Dr Reddy’s Laboratories Monday reported 89 percent jump in net profits to Rs.850 crore ($167 million) in 2008-09 from Rs.450 crore the year before.
The total income of the company grew 39 percent to Rs.6,940 crore last fiscal from Rs.5,000 crore in 2007-08, the company said in a regulatory filing.

Dr Reddy’s, which booked a forex loss of Rs.63.4 crore for the fiscal, owed its growth to the successful launch of the generic version of GlaxoSmithKline’s Imitrex in November 2008. The drug is used to treat migraines.

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