Dr Reddy's shares rally nearly 4% after company issues clarification around layoff buzz; check details

However, later, the company, in the regulatory filing, issued a clarification regarding the development and said that the news is factually incorrect. "We categorically deny the claim of a 25% workforce cost reduction and the other claims mentioned in the said news article," the company added.

Dr Reddy's added, "In this regard, please note that the company does not comment on market speculations, and there is currently no such event or information which requires a disclosure under Regulation 30 of the SEBI Listing Regulations."

The statement read, "In compliance with Regulation 30 of the SEBI Listing Regulations, the Company makes prompt disclosure of any event or information as and when any event or information is considered material or warrants such disclosure under the said Regulation."

Shares of the company rallied as much as 3.77% to ₹1,151.40 apiece on the NSE on Tuesday, April 15.

Dr Reddy's Q3 FY25 Results

The Hyderabad-based drug major had reported a profit of ₹1,379 crore for the October-December period of last fiscal.

Revenue increased to ₹8,359 crore in the quarter from ₹7,215 crore logged in the year-ago period, Dr Reddy's Laboratories said in a statement.

"We delivered double-digit growth aided by our newly acquired NRT business, new launches and improved operational efficiencies. We remain committed to addressing patient needs by advancing healthcare through access, affordability and innovation," said the company's Co-Chairman & MD G V Prasad.