Dr Reddy's Q2 net profit up 7.31%

Drug firm Dr Reddy's Laboratories posted a consolidated net profit of Rs 307.80 crore for the second quarterended September 30, 2011, up 7.31 per cent from the same period previousfiscal.

The company had posted a net profit of Rs 286.82 crore forthe same period previous fiscal, Dr Reddy's said in a filing to the BSE.

The Hyderabad-based firm 's revenue to Rs 2,267.79 crore forthe second quarter ended September 30, as compared to Rs 1,870.37 crore for thesame period last financial year.

The company said its sales growth was driven primarily byglobal generics, mainly in North America and Russia.

The firm's revenues from global generics stood at Rs 1,610crore for the second quarter ended September 30, 2011, it added.

For the six months ended September 30, the company posted anet profit of Rs 570.54 crore, as against Rs 496.37 crore for the same periodlast fiscal.

On a standalone basis, the company posted a net profit of Rs138.50 crore for the second quarter, as compared to Rs 220.20 crore in the sameperiod previous fiscal.

Shares of Dr Reddy's Laboratories were trading at Rs 1,575on the BSE in afternoon trade, up 1.97 per cent from its previous close.