Mumbai: Shares of drug major Dr Reddy's Laboratories on Thursday surged over 5 percent, adding Rs 3,287.19 crore to its market valuation, after the company reported a 13.67 percent rise in consolidated net profit for the quarter ended June 30.
The stock ended the day with a gain of 5.23 percent at Rs 3,907.55 on BSE. During the day, it climbed 5.91 percent to Rs 3,933.
At the NSE, shares of the company rose by 5.4 percent to close at Rs 3,913.10.
The company's market valuation went up by Rs 3,287.19 crore to Rs 66,618.19 crore.
Dr Reddy's today reported a 13.67 percent rise in its consolidated net profit to Rs 625.65 crore for the quarter ended June 30, on account of robust sales in North America, Europe and India.
The company had posted a net profit of Rs 550.39 crore for the corresponding quarter of the previous fiscal, it said in a BSE filing.
Consolidated net income from sales and services also rose to Rs 3,757.76 crore for the quarter under review as against Rs 3,517.54 crore for the same period year ago.
