Shares of Dr Reddy's Laboratories continued to fall for the second straight session today, plunging 6 per cent, after the drug firm reported a 56.61 per cent dip in consolidated net profit for the June quarter.
The scrip tumbled 6.08 per cent to end at Rs 2,462.05 on BSE. During the day, it dived 6.53 per cent to Rs 2,450.05.
On NSE, shares of the company ended 5.93 per cent lower at Rs 2,464.95.
The company's market valuation also went down by Rs 2,654.1 crore to Rs 40,809.90 crore.
The stock was the worst hit among the bluechip components on both the key indices during the day.
The stock had fallen by over 3 per cent in the previous trading session also.
Dr Reddy's Laboratories yesterday reported a 56.61 per cent fall in consolidated net profit to Rs 66.6 crore for the quarter ended June, mainly on account of lower revenues from the US and impact of GST in India.
The company had posted a net profit after taxes and share of profit of associates of Rs 153.5 crore for the same period of the previous fiscal, Dr Reddy's Laboratories said in a BSE filing.
Consolidated net sales of the company stood at Rs 3,248.9 crore for the quarter under consideration. It stood at Rs 3,185.7 crore for the corresponding period a year ago.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)