Shares of Dr Reddy’s Laboratories dipped 4 per cent to Rs 4,400 on the BSE in an otherwise strong market on Monday, thus falling 10 per cent in the past two trading days after reporting a consolidated net profit of Rs 20 crore in the December 2020 quarter (Q3FY21) against a loss of Rs 569.7 crore in the year-ago period. The drug maker s stock was trading lower for the fourth straight day, falling 13 per cent during that period. It hit an over four-month low and trading at its lowest level since September 15, 2019.
The company said the profits were impacted due to trigger based impairment charge taken on a few acquired products, including gNuvaring. Not accounting for impairment cost, the company s net profit in the quarter would have been at Rs 882 crore, it said.