Dr Reddy’s Labs Q1 revenue, profit up

India based Dr. Reddy’s Laboratories (NYSE: RDY) posted a rise in fiscal first quarter (ended June 2015) revenue and profit boosted by growth in generics sales in the USA, Europe and India despite few new launches and currency devaluation in key emerging markets.

The company posted revenue of 37.6 billion rupees ($591 million), up 7% compared with a year ago. Profit after tax stood at 6.3 billion rupees, a 14% jump year-on-year, beating expectations and pushing the firm's share up 3.6% to an all-time high of 4,048.61 rupees.

Dr. Reddy’s co-chairman and chief executive GV Prasad said: "As we continue to further strengthen our product portfolio and drive new launches, we are well positioned for the next phase of our growth.”