Dr Reddy's Labs Q4 net falls 3 percent to Rs 302 crore

New Delhi: Drug firm Dr Reddy's Laboratories reported a 3.29 percent fall in its consolidated net profit to Rs 302.2 crore for the fourth quarter ended March 31, 2018, mainly on account of continuing headwinds in the US.

The company had posted a net profit of Rs 312.5 crore for the corresponding period of the previous fiscal, Dr Reddy's Laboratories said in a filing to BSE.

Consolidated revenue of the company stood at Rs 3,534.9 crore for the quarter under consideration. It was Rs 3,554.2 crore for the same period a year ago.

For the fiscal year 2017-18, the company posted a net profit of Rs 980.6 crore as against Rs 1,203.9 crore for the year-ago period.

Consolidated revenue of the company stood at Rs 14,202.8 crore for the fiscal year ended March 2018. It was Rs 14,080.9 crore for the previous fiscal year.

Dr Reddy's Laboratories CEO and Co-chairman GV Prasad said, "We concluded a challenging year for Dr Reddy's with a relatively muted fourth-quarter performance."

This was mainly on account of continuing headwinds in the US market and a temporary drop in the sales in Russia, attributable to a shift in the channel purchasing pattern, he added.

In a separate filing company said its board has recommended a final dividend of Rs 20 per equity share of Rs 5 face value for the financial year 2017-18.