According to the exchange filing, the subsidiary was officially established on 20 December 2024. The company disclosed that the delay in the announcement was due to the late receipt of information from the newly incorporated subsidiary. Dr Reddy's Finland Oy is a step-down wholly-owned subsidiary of the company.
The primary purpose of incorporating Dr. Reddy's Finland Oy is to engage in the healthcare and pharmaceutical sectors, including the general marketing, sales, and promotion of medical devices, as well as providing marketing and consulting services for these products. The business of Dr. Reddy's Finland Oy is in line with the main line of business of the company.
As Dr. Reddy’s Finland Oy is promoted by DRSA, it is considered a related party of Dr. Reddy’s Laboratories.
Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The company’s consolidated net profit declined 15.3% to Rs 1,255.70 crore despite of 16.5% jump in revenue from operations to Rs 8,016.10 crore in Q2 FY25 over Q2 FY24.
The scrip rose 0.77% to Rs 1,351.15 on the BSE.