Hyderabad, Oct. 24: Dr Reddy’s Laboratories (DRL) has posted a 32 per cent rise in net profit for the September quarter on the back of better sales in developing countries, especially India and Russia.
The net profit for the second quarter stood at `290 crore, while the growth in revenue remained flat at `1,870 crore.
The revenues from the North American market, which is mainstay of the company, remained flat at `440 crore even as Europe continued to bleed the pharma major in the quarter under review too.
Revenues from Europe declined to `240 crore from `280 crore of last year.
However, the company is hopeful of yielding good results in the coming quarters from Betapharma, which has become a white elephant for the Hyder-abad-based pharma major.
“Germany is one of the top five priority areas for us. In the overall scheme of things, it may be just 10 per cent contribution to the co-mpany now. But for generic business, it is an important component. Earlier it (Ger-many) was branded model now it is generic model business for us,” DRL vice-chairman, Mr G.V. Prasad, said.