Exhibit 99.1

	CONTACT
DR. REDDY’S LABORATORIES LTD.	INVESTOR RELATIONS	MEDIA RELATIONS
8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India.	KEDAR UPADHYE kedaru@drreddys.com (Ph: +91-40-66834297)	CALVIN PRINTER calvinprinter@drreddys.com (Ph: +91-40- 49002121)

Dr. Reddy’s Q2 and H1 FY16 Financial Results

Highest ever Quarterly sales and EBITDA performance

Q2 Revenues at 39.9 billion (YoY growth of 11%)   Q2 EBITDA at 11.4 billion (28.6% of the revenues) H1 Revenues at 77.5 billion (YoY growth of 9%)   H1 EBITDA at 21.3 billion (27.5% of the revenues)

Hyderabad, India, October 29, 2015: Dr. Reddy’s Laboratories Ltd. (NYSE: RDY | BSE: 500124 | NSE: DRREDDY) today announced its consolidated financial results for the quarter ended September 30, 2015 under International Financial Reporting Standards (IFRS).

Q2 FY16: Key Highlights

• Consolidated revenues at 39.9 billion, year-on-year growth of 11%. In constant currency terms the revenue growth is 14%

• Gross Profit Margin at 61.3%, improved by 285 bps over last year

• Research & Development (R&D) spend at 4.5 billion. Continued focus on building complex generics and differentiated products pipeline

• Selling, general & administrative (SG&A) expenses at 11.1 billion. Marginal year-on-year increase. Year-on-year drop seen by ~200bps in percentage to sales

• EBITDA at 11.4 billion, 28.6% of revenues, strong year-on-year growth of 31%

• Profit after tax at 7.2 billion, strong year-on-year growth of 26%. Diluted EPS at 42.2

Commenting on the results, Dr. Reddy’s co-chairman and CEO, GV Prasad said, “I am pleased with our performance for this quarter. We had robust sales growth across our markets of US, India and Europe, supported by new products that were launched in the last twelve months. Our investment in R&D remains at 11%, as we continue on our strategy of building an exciting pipeline of assets across our businesses. While satisfied with our performance, we are intensely focused on enhancing our quality management system and infrastructure to meet evolving global requirements and address the pending cGMP related matters at some of our facilities.”

All amounts in millions, except EPS                     All US dollar amounts based on convenience translation rate of I USD = 65.50

Dr. Reddy’s Laboratories Limited and Subsidiaries

Consolidated Income Statement

Particulars	Q2 FY 16									Q2 FY 15									Growth %
	($)			(Rs.)			%			($)			(Rs.)			%
Revenues		609			39,890			100.0			548			35,879			100.0			11
Cost of revenues		235			15,421			38.7			227			14,893			41.5			4
Gross profit		374			24,469			61.3			320			20,986			58.5			17
Operating Expenses
Selling, general & administrative expenses		169			11,058			27.7			163			10,673			29.7			4
Research and development expenses		68			4,473			11.2			63			4,113			11.5			9
Other operating expense / (income)		(5	)		(320	)		(0.8	)		(4	)		(265	)		(0.7	)		20
Results from operating activities		141			9,258			23.2			99			6,465			18.0			43
Finance expense / (income), net		3			216			0.5			(6	)		(421	)		(1.2	)
Share of profit of equity accounted investees, net of income tax		(1	)		(56	)		(0.1	)		(1	)		(51	)		(0.1	)		10
Profit before income tax		139			9,098			22.8			106			6,937			19.3			31
Income tax expense		29			1,879			4.7			18			1,196			3.3			57
Profit for the period		110			7,219			18.1			88			5,741			16.0			26
Diluted EPS		0.64			42.20						0.51			33.60						26

EBITDA Computation

Particulars	Q2 FY 16						Q2 FY 15
	($)			(Rs.)			($)			(Rs.)
Profit before tax		139			9,098			106			6,937
Interest (income) / expense net*		(3	)		(172	)		(3	)		(178	)
Depreciation		25			1,606			22			1,409
Amortization		13			860			8			548
EBITDA		174			11,392			133			8,715
EBITDA (% to sales)					28.6						24.3

* Includes dividend and profit on sale of investments

All amounts in millions, except EPS                     All US dollar amounts based on convenience translation rate of I USD = 65.50

Key Balance Sheet Items

Particulars	As on 30th Sep 15				As on 30st Jun 15
	($)		(Rs.)		($)		(Rs.)
Cash and cash equivalents and Other current Investments		520		34,050		536		35,117
Trade receivables		654		42,840		642		42,030
Inventories		414		27,147		399		26,149
Property, plant and equipment		779		51,055		754		49,386
Goodwill and Other Intangible assets		369		24,155		368		24,106
Loans and borrowings (current & non-current)		566		37,072		632		41,400
Trade payables		195		12,766		175		11,448
Equity		1,855		121,499		1,815		118,885

Revenue Mix by Segment

Particulars	Q2 FY 16						Q2 FY 15						Growth %
	($)		(Rs.)		%		($)		(Rs.)		%
Global Generics		500		32,768		82		437		28,606		80		15
North America				18,563						14,030				32
Europe*				2,124						1,288				65
India				5,464						4,799				14
Emerging Markets#				6,617						8,489				(22	)
PSAI		90		5,918		15		98		6,392		18		(7	)
North America				692						1,298				(47	)
Europe				2,426						2,548				(5	)
India				724						896				(19	)
Rest of World				2,076						1,650				26
Proprietary Products & Others		18		1,204		3		13		880		2		37
Total		609		39,890		100		548		35,879		100		11

* Europe referred above primarily includes Germany, UK and out licensing sales business

# Emerging Markets refers to Russia, other CIS countries, Romania and Rest of the World markets including Venezuela

Note: Effective Q1 FY 16, there has been a change in the monitoring of performance of one product from Global Generics to Proprietary Products. Consequently, revenues and related costs of this product for the previous periods have been reclassified to conform to such change.

Segmental Analysis

Global Generics

Revenues from Global Generics segment for Q2 FY16 are at 32.8 billion, year-on-year growth of 15%, primarily driven by North America, Europe and India.

• Revenues from North America for Q2 FY16 at 18.6 billion, year-on-year growth of 32%. Primarily on account of:

• Sustained performance of the injectable franchise and market share gains in key molecules

• Contribution from products launched subsequent to quarter ended September 30, 2014 majorly being valganciclovir, sirolimus, memantine and Habitrol^®.

Two new product filings in the US during the quarter. Cumulatively, 76 ANDAs are pending for approval with the USFDA of which 50 are Para IVs out of which we believe 18 to have ‘First to File’ status.

• Revenues from Emerging Markets for Q2 FY16 at 6.6 billion, year-on-year decline of 22%. Performance was flat in constant currency terms where in the growth in Russia and CISR regions was offset by decline in Venezuela.

• Revenues from Russia at 2.9 billion, year-on-year decline of 29% primarily on account of depreciation of rouble. In constant currency revenues grew by 11%.

• Revenues from other CIS countries and Romania market at 1.0 billion, and grew by 25% year-on-year.

• Revenues from Rest of World (RoW) territories at 2.7 billion recorded year-on-year decline of 24%.

• Revenues from India for Q2 FY16 at 5.5 billion, year-on-year growth of 14%.

• Adjusted for some of the despatches which got spilled over to October, growth for the quarter is healthy and in line with expectations

• Select portfolio of products acquired from UCB fully integrated into our supply chain

• Revenues from Europe for Q2 FY16 at 2.1 billion, year-on-year growth of 65%. Growth was primarily driven by new products (aripiprazole and pregabalin) launched during the second half of fiscal 2015.

Pharmaceutical Services and Active Ingredients (PSAI)

• Revenues from PSAI at 5.9 billion, and declined by 7% year-on-year.

• During the quarter, 10 DMFs were filed globally and 3 in the US. The cumulative number of DMF filings as of September 30, 2015 is 755.

Income Statement Highlights:

• Gross profit margin at 61.3% and registered an improvement of ~285 bps over that of previous year. Gross profit margin for Global Generics (GG) and PSAI business segments are at 67.3% and 25.8% respectively.

• Selling, General and Administration (SG&A) expenses at 11.1 billion, year-on-year increase of 4%. SG&A as % to sales improved by ~200 bps over previous year.

• Research & development expenses at 4.5 billion, year-on-year increase of 9%. 11.2% of revenues in Q2 FY16 as compared to 11.5% of revenues in Q2 FY15. The increase is in line with our planned scale-up in development activities.

• Net Finance expense at 216 million compared to income of 421 million in Q2 FY15. The incremental charge of 637 million is on account of:

• Net forex loss of 349 million in the current quarter vs net foreign exchange gain of 243 million in the previous year

• Certain monetary assets and liabilities of the Venezuelan subsidiary that may not qualify for translation at the CENCOEX rate of VEF 6.3 per USD, have been translated at the SIMADI rate of VEF 198.5 per USD and the resultant charge of 39 million has been recorded as foreign exchange loss.

• Decline in profit on sales of investments by 91 million.

• Net increase in interest income of 85 million.

• Profit after Tax at 7.2 billion, 18% of revenues, year-on-year growth of 26%.

• Diluted earnings per share is at 42.2

• Capital expenditure is at 3.0 billion.

Update on the API facilities:

During October 2015, two of the Company’s API customers received ANDA approval rescission letters from the U.S. Food and Drug Administration (USFDA). These ANDAs of customers were approved in January and February 2015, post USFDA’s inspection of the Company’s API facilities. Each rescission letter cites that the Company’s API facility was classified as Potential ‘Official Action Indicated’ (OAI) on the date of approval.

Dr. Reddy’s continues to cooperate with the US FDA in connection with pending Form 483 observations and awaits further advice from the Agency on this matter.

Earnings Call Details (06.30 pm IST, October 29, 2015)

The Company will host an earnings call at 06.30 pm IST on October 29, 2015, to discuss the performance and answer any questions from participants. This call will be accessible through an audio dial-in and a web-cast.

Audio conference Participants can dial-in on the numbers below

Primary number:		91 22 3960 0616
Secondary number:		91 22 6746 5826
International Toll Free Number	USA	18667462133
	UK	08081011573
	Singapore	8001012045
	Hong Kong	800964448

Playback of call:	91 22 3065 2322, 91 22 6181 3322
Conference ID:	375#
Web-cast www.drreddys.com	More details will be provided through our website,

Transcript of the event will be available at www.drreddys.com. Playback will be available for a few days.

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.