Indian pharmaceutical giant Dr. Reddy’s Laboratories has posted a net profit of Rs 1622.60 million for the quarter ended March 31, 2008, registering a 39.66 per cent decline as compared to Rs 2689.00 million for the quarter ended March 31, 2007.

The total Income has also decreased from Rs 11510.60 million for the quarter ended March 31, 2007 to Rs 10384.70 million for the quarter ended March 31, 2008. The Company has posted a standalone net profit of Rs 4752.20 million for the year ended March 31, 2008 as compared to Rs 11768.60 million for the year ended March 31, 2007.

The total standalone Income of the company has also decreased from Rs 40843.10 million for the year ended March 31, 2007 to Rs 35850.10 million for the year ended March 31, 2008.

Dr. Reddy’s was established in 1984 and is based in Hyderabad, India. The company has more than 190 medications on the market and is India’s second largest pharmaceutical company. The company has recently acquired BASF's drug contract manufacturing business and facility located in Shreveport, LA. for an undisclosed amount.

The board of directors of Dr Reddy`s Laboratories at its meeting held on May 20, 2008, has recommended a final dividend of 75% i.e. Rs 3.75 a share of the face value of Rs 5, subject to the shareholders approval.