Exhibit 99.1

Dr. Reddy’s Q4 & FY15 Financial Results
Q4 FY15 Revenues at 38.7 billion (YoY growth of 11%) Q4 FY15 EBITDA at 8.1 billion (21% of revenues)	FY15 Revenues at 148.2 billion (YoY growth of 12%) FY15 EBITDA at 36.2 billion (24% of revenues)

Hyderabad, India, May 12, 2015: Dr. Reddy’s Laboratories Ltd. (NYSE: RDY | BSE: 500124 | NSE:DRREDDY) today announced its consolidated financial results for the fourth quarter and full year ended March 31, 2015 under International Financial Reporting Standards (IFRS).

FY15: Key Highlights

• Three NDAs filed in our Proprietary Products business.

• Consolidated revenues for FY 15 at 148.2 billion, year-on-year growth of 12%.

• Gross Profit Margin for FY 15 at 57.6% versus 57.4% as in FY 14.

• Research & Development (R&D) expenses for FY 15 at 17.4 billion, year-on-year increase of 41%.

• Selling, general & administrative (SG&A) expenses for FY 15 at 42.6 billion, year-on-year increase of 10%.

• EBITDA for FY 15 at 36.2 billion, 24% of revenues; year-on-year growth of 9%.

• Profit after tax for FY15 at 22.2 billion, 15% of revenues; year-on-year growth of 3%

Q4 FY15: Key Highlights

• Consolidated revenues for Q4 FY15 at 38.7 billion, year-on-year growth of 11%.

• EBITDA for Q4 FY15 at 8.1 billion, 21% of revenues. During Q4 FY15 we have recorded a foreign exchange translation loss of Rs. 843 million on certain net monetary assets in Venezuela.

• Profit after tax for Q4 FY15 at 5.2 billion, 13% of revenues.

Dr. Reddy’s Co-chairman and CEO, GV Prasad, commented, “We are pleased with the progress on our financial and non-financial parameters, which we delivered despite currency volatility in some of our Emerging Market geographies. Our commitment to R&D continues to show results, with the filings of NDAs in our Proprietary Products business during the quarter and continued filings of complex generics assets. Overall, our results demonstrate our commitment to execute on our strategy, across businesses, as we constantly strengthen our focus on patients and providing them access to affordable medicines.”

All amounts in millions, except EPS All US dollar amounts based on convenience translation rate of I USD = 62.31

Dr. Reddy’s Laboratories Limited and Subsidiaries

Consolidated Income Statement

Particulars	FY15									FY14									Growth %
	($)			(Rs.)			%			($)			(Rs.)			%
Revenues		2,378			148,189			100			2,121			132,170			100			12
Cost of revenues		1,008			62,786			42.4			905			56,369			42.6			11
Gross profit		1,371			85,403			57.6			1,217			75,801			57.4			13
Operating Expenses
Selling, general & administrative expenses		683			42,585			28.7			622			38,783			29.3			10
Research and development expenses		280			17,449			11.8			199			12,402			9.4			41
Other operating expense / (income)		(15	)		(917	)		(0.6	)		(23	)		(1,416	)		(1	)		(35	)
Results from operating activities		422			26,286			17.7			418			26,032			19.7			1
Finance (expense)/income, net		27			1,682			1.1			6			400			0.3			321
Share of profit of equity accounted investees, net of income tax		3			195			0.1			3			174			0.1			12
Profit before income tax		452			28,163			19.0			427			26,606			20.1			6
Income tax expense		96			5,984			4.0			82			5,094			3.9			17
Profit for the year		356			22,179			15.0			345			21,512			16.3			3
Diluted EPS		2.08			129.8						2.02			126.0						3

EBITDA Computation

Particulars	FY15						FY14
	($)			(Rs.)			($)			(Rs.)
Profit before tax		452			28,163			427			26,606
Interest (income) / expense net		(12	)		(725	)		(0	)		(24	)
Depreciation		92			5,722			77			4,804
Amortization		38			2,381			37			2,292
Impairment / (reversal of impairment) adjustment		10			629			(8	)		(497	)
EBITDA		580			36,170			532			33,180
EBITDA (% to sales)					24.4						25.1

Note:

Selling, general & administrative expenses, as above, includes an impairment charge  510 million [in FY 15] and impairment reversal of 497 million [in FY 14]

Research & Development expenses, as above, includes an impairment charge of 119 million in [FY 15]

All amounts in millions, except EPS All US dollar amounts based on convenience translation rate of I USD =  62.31

Appendix 1: Key Balance Sheet Items

Particulars	As on 31st March 15				As on 31st Mar 14
	($)		(Rs.)		($)		(Rs.)
Cash and cash equivalents and Other Investments		636		39,654		538		33,534
Trade receivables		654		40,755		530		33,037
Inventories		410		25,529		385		23,992
Property, plant and equipment		772		48,090		713		44,424
Goodwill and Other Intangible assets		264		16,430		236		14,697
Loans and borrowings (current & non-current)		692		43,125		718		44,741
Trade payables		171		10,660		169		10,503
Equity		1,786		111,302		1,457		90,801

Appendix 2: Revenue Mix by Segment

Particulars	FY15						FY14						Growth %
	($)		(Rs.)		%		($)		(Rs.)		%
Global Generics		1,935		120,556		81		1,688		105,164		80		15
North America				64,723		54				55,302		53		17
Europe				7,193		6				6,970		7		3
India				17,870		15				15,713		15		14
Russia & Other CIS				17,713		15				19,819		19		(11	)
Rest of World				13,057		11				7,359		7		77
PSAI		409		25,456		17		385		23,974		18		6
North America				4,605		18				4,354		18		6
Europe				10,507		41				8,770		37		20
India				3,288		13				3,787		16		(13	)
Rest of World				7,056		28				7,063		29		(0	)
Proprietary Products & Others		35		2,177		1		49		3,033		2		(28	)
Total		2,378		148,189		100		2,121		132,170		100		12

Segmental Analysis

Global Generics

Revenues from Global Generics segment for FY15 are at 120.6 billion, year-on-year growth of 15%, primarily driven by North America, Venezuela and India.

• Revenues from North America for FY15 at 64.7 billion, year-on-year growth of 17%.

• Current year growth is shaped by scale-up of the injectable franchise and market share gains in select molecules

• 12 new products were launched during the financial year

• Current year includes three months revenues from Habitrol®

• 13 new product filings in the US during the year. Cumulatively, 68 ANDAs are pending for approval with the USFDA of which 43 are Para IVs out of which we believe 13 to have ‘First To File’ status.

• Revenues from Emerging Markets for FY15 at 30.8 billion, year-on-year growth of 13%.

• Revenues from Russia at 14.9 billion, year-on-year growth of 13% in local currency terms despite macro-economic uncertainty. After considering the impact of currency depreciation the rupee revenues declined by 9%.

• Revenues from CIS markets at 2.8 billion, year-on-year decline of 20% primarily on account of currency depreciation.

• Revenues from Rest of World (RoW) territories at 13.1 billion recorded year-on-year growth of 77%. Of this Venezuela delivered strong growth on the back of continuing volume uptake.

• Revenues from India for FY15 at 17.9 billion, year-on-year growth of 14%.

• Growth is driven by continued focus on new product launches and prescription growth.

• Revenues from Europe for FY15 at 7.2 billion, year-on-year of 10% in local currency terms.

• As per IMS Mar’15, Dr Reddy’s MQT Gr% at 21.4% versus market MQT Gr% of 15.4%.

Pharmaceutical Services and Active Ingredients (PSAI)

• Revenues from PSAI for FY15 at 25.5 billion, year-on-year growth of 6%.

• During the year, 77 DMFs were filed globally, including 12 in the US and 16 in Europe. The cumulative number of DMF filings as of March 31, 2015 is 735.

Income Statement Highlights:

• Gross profit margin in FY15 stood at 57.6% and registered marginal improvement over previous year. Gross profit margin for Global Generics (GG) and PSAI business segments for FY15 are at 65.2% and 22.4% respectively.

• Selling, General and Administration (SG&A) expenses at 42.6 billion, year-on-year increase of 10%. The increase is primarily on account of annual increments, additional manpower deployment in select areas, sales & marketing spend for events specific to the year, marginally offset by currency devaluation in EM markets.

• Research & development expenses at 17.4 billion, year-on-year growth of 41%. 11.8% of revenues in FY15 as compared to 9.4% of revenues in FY14. The increase is in line with our planned scale-up in development activities.

• Net Finance income at 1,682 million compared to 400 million in FY15. The increase is on account of:

• Incremental forex benefit of 1,430 million

• During Q4 FY15, pursuant to the modification of the currency exchange systems by the government of Venezuela in February 2015, the Company re-evaluated its economic position and determined that it is appropriate to use the SIMADI rate (which is bolivars 193 per USD) to translate the surplus monetary assets and liabilities, other than those which qualify for the CENCOEX rate of 6.3 bolivars per USD. Accordingly, during the quarter ended 31 March 2015, an amount of 843 million was recorded as foreign exchange loss.

• Incremental profit on sales of investments of 539 million

• Net increase in interest income of 158 million primarily due to reduction in Interest expense by 182 million offset set by decline in interest income by 24 million.

• EBITDA for FY15 at 36.2 billion, year-on-year growth of 9%; 24% of revenues.

• Profit after Tax in FY15 at 22.2 billion, year-on-year growth of 3%; 15% of revenues.

• Diluted earnings per share in FY 15 at 130

• Capital expenditure for FY15 is 9.3 billion.

The Board has recommended payment of a dividend of Rs 20 per equity share of face value Rs 5/- each (400% of face value) for the year ended March 31, 2015, subject to approval of members.

All amounts in millions, except EPS All US dollar amounts based on convenience translation rate as on 31^st March, 2015  USD =  62.31

Appendix 3: Q4 FY15 Consolidated Income Statement

Particulars	Q4 FY15									Q4 FY14									Growth %
	($)			(Rs.)			%			($)			(Rs.)			%
Revenues		621			38,704			100.0			559			34,809			100.0			11
Cost of revenues		281			17,483			45.2			239			14,887			42.8			17
Gross profit		341			21,221			54.8			320			19,922			57.2			7
Operating Expenses
Selling, general & administrative expenses		162			10,082			26.0			165			10,307			29.6			(2	)
Research and development expenses		83			5,144			13.3			64			3,985			11.4			29
Other operating expense / (income)		(2	)		(125	)		(0.3	)		(4	)		(226	)		(0.7	)		(45	)
Results from operating activities		98			6,120			15.8			94			5,857			16.8			4
Finance (expense)/income, net		(4	)		(233	)		(0.6	)		3			163			0.5			(243	)
Share of profit of equity accounted investees		1			44			0.1			1			48			0.1			10
Profit before income tax		95			5,931			15.3			97			6,068			17.4			(2	)
Income tax expense		12			742			1.9			20			1,252			3.6			(41	)
Profit for the period		83			5,189			13.4			77			4,816			13.8			8
Diluted EPS		0.49			30.35						0.45			28.22						8

Appendix 4: EBITDA Computation

Particulars	Q4 FY15						Q4 FY14
	($)			(Rs.)			($)			(Rs.)
Profit before income tax		95			5,931			97			6,068
Interest income		(3	)		(194	)		(1	)		(82	)
Depreciation		25			1,533			21			1,308
Amortization		11			699			10			648
Impairment		2			95			—			—
EBITDA		129			8,064			127			7,942

All amounts in millions, except EPS All US dollar amounts based on convenience translation rate as on 31^st March, 2015  USD =  62.31

Appendix 5: Revenue Mix by Segment

	Q4 FY15						Q4 FY14						Growth %
	($)		(Rs.)		%		($)		(Rs.)		%
Global Generics		497		30,993		80		438		27,318		78		13
North America				17,154		55				14,964		55		15
Europe				2,341		8				1,774		6		32
India				4,744		15				4,101		15		16
Russia & Other CIS				3,289		11				4,519		17		(27	)
Rest of World				3,465		11				1,960		7		77
PSAI		119		7,415		19		107		6,641		19		12
North America				1,400		19				1,538		23		(9	)
Europe				3,223		43				2,370		36		36
India				668		9				979		15		(32	)
Rest of World				2,124		29				1,754		26		21
Proprietary Products & Others		5		296		1		14		851		2		(65	)
Total		621		38,704		100		559		34,809		100		11

CONTACT
INVESTOR RELATIONS	MEDIA RELATIONS
KEDAR UPADHYE kedaru@drreddys.com (Ph: +91-40-66834297)	CALVIN PRINTER calvinprinter@drreddys.com (Ph: +91-40- 49002121)

About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastro-intestinal, cardiovascular, diabetology, oncology, pain management and anti-infectives. Dr. Reddy’s operates in markets across the globe. Our major markets include – USA, Russia & CIS, Venezuela and India. For more information, log on to: www.drreddys.com

Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults, currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganisation, including related integration issues.

The company assumes no obligation to update any information contained herein.