MUMBAI, Oct 30: India’s second-largest drug maker Dr Reddy’s Laboratories reported on Tuesday that its quarterly profit rose 32.4 per cent, beating market estimates on rising revenues in foreign markets.

Dr Reddy’s consolidated net profit rose to 4.07 billion rupees for the three months to September, from 3.08 billion rupees a year earlier.

Analysts expected the firm to show a quarterly profit of 3.8 billion rupees. The company, also listed on the New York Stock Exchange, said revenues rose in North America, Russia and some emerging markets, led by volume growth in existing products and new drugs launched in the past year.

Total revenues rose 27 per cent to 28.8 billion rupees, with North America rising by 47 per cent.—AFP