Shares of Dr Reddy's Laboratories on Tuesday tumbled over 10 per cent after the company reported a 36 per cent decline in consolidated net profit for the quarter ended June 30, 2021.
The company's stock plummeted 10.44 per cent to close at ₹4,844.35 on the BSE.
During the day, it tumbled 11.61 per cent to ₹4,781.
On the NSE, it plunged 10.31 per cent to close at ₹4,853.20.
Dr Reddy's Laboratories on Tuesday reported a 36 per cent decline in consolidated net profit at ₹380.4 crore for the quarter ended June 30, 2021, on account of higher expenses.
The pharma major had posted a net profit of ₹594.6 crore in the corresponding period a year ago.
Total income during the June quarter of the current fiscal stood at ₹5,053 crore, up 12 per cent as against ₹4,513.6 crore in the year-ago period, Dr Reddy's Laboratories said in a filing to BSE.