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Dr Reddy’s Laboratories ( (RDY) ) has issued an update.
Dr. Reddy’s Laboratories has been issued a tax demand order from the GST Authority, including interest and penalty, for the financial year 2017-18, alleging the company availed ineligible Input Tax Credit (ITC). Despite the penalty of Rs. 39,75,827/-, the company states that there is no material impact on its financials or operations, and it is considering filing an appeal with the appellate authority.
More about Dr Reddy’s Laboratories
Dr. Reddy’s Laboratories Ltd. is a prominent pharmaceutical company based in Hyderabad, India. It specializes in the development and sale of a range of pharmaceutical products, including generic medicines, active pharmaceutical ingredients, and proprietary products. The company focuses on providing affordable and innovative medicines to patients worldwide.
YTD Price Performance: 0.89%
Average Trading Volume: 1,212,748
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $13.31B
See more insights into RDY stock on TipRanks’ Stock Analysis page.
