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Dr Reddy’s Laboratories ( (RDY) ) has issued an announcement.
Dr. Reddy’s Laboratories announced on February 3, 2025, that it received a penalty order from the Commissioner of Central Tax, Medchal Commissionerate, Hyderabad, under the Central Excise Act, 1944. The order, dated January 31, 2025, was issued due to an alleged erroneous sanction of a refund, resulting in a penalty of Rs. 1,58,17,380. The company has stated that this penalty will not materially impact its financials or operations and is considering filing an appeal with the appellate authority.
More about Dr Reddy’s Laboratories
Dr. Reddy’s Laboratories is a pharmaceutical company based in Hyderabad, India, primarily engaged in providing a wide range of affordable and innovative medicines. The company operates globally and is focused on the development, manufacture, and marketing of pharmaceutical products.
YTD Price Performance: -11.81%
Average Trading Volume: 1,574,767
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $11.73B
Learn more about RDY stock on TipRanks’ Stock Analysis page.
