Drug makers Dr Reddy’s Laboratories Ltd (DRL) on Friday (September 20) said the United States Food & Drug Administration (FDA) has completed a routine Good Manufacturing Practice (GMP) inspection at its integrated product development organisation (IPDO) in Bachupally, Hyderabad.

“This is to inform you that the United States Food & Drug Administration (USFDA) today completed a routine Good Manufacturing Practice (GMP) inspection at our R&D centre (Integrated Product Development Organisation or IPDO) in Bachupally, Hyderabad,” the company said in a stock exchange filing.

The inspection, which took place from September 16-20, 2024, concluded with zero observation, Dr Reddy’s added.

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Dr Reddy’s Laboratories saw a 1% decline in its net profit at ₹1,392 crore for the April to June 2024 quarter, the firm’s financial results released on July 27 showed. The profit, however, was nearly 4% higher than the CNBC-TV18 poll expectation of ₹1,335 crore.

DRL’s revenue also surpassed projections by almost 7% to come in at ₹7,672 crore for the quarter under review. It was 14% higher than the company’s revenue in the corresponding quarter last fiscal.

The firm’s margin and EBITDA, or earnings before interest, taxes, depreciation, and amortisation also beat CNBC-TV18 poll expectations. The EBITDA rose 1.1% year-on-year to come in at ₹2,159.9 crore whereas the margin dipped 80 basis points from the same quarter last year to 28.2% for the June ended quarter.

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Shares of Dr Reddy’s Laboratories Ltd ended at ₹6,552.50, up by ₹45.70, or 0.70%, on the BSE.