Full Press Release Details
Report of Independent Registered Public Accounting
To the Shareholders and Board of Directors of Dr.
Reddy's Laboratories Limited
Results of Review of Interim Financial Statements
We have reviewed the accompanying condensed
consolidated interim statement of financial position of Dr. Reddy's Laboratories Limited and subsidiaries (the Company) as of
June 30, 2023, the related condensed consolidated interim income statements and statements of comprehensive income, changes in
equity and cash flows for the three-month periods ended June 30, 2023 and 2022, and the related notes (collectively referred to
as the "condensed consolidated interim financial statements"). Based on our reviews, we are not aware of any material
modifications that should be made to the condensed consolidated interim financial statements for them to be in conformity with
International Accounting Standard (IAS) 34, Interim Financial Reporting as issued by the International Accounting Standards
We have previously audited, in accordance with the
standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated statement of financial position of
the Company as of March 31, 2023, the related consolidated income statements, statements of comprehensive income, changes in equity
and cash flows for the year then ended, and the related notes and schedules (not presented herein); and in our report dated June 13,
2023, we expressed an unqualified audit opinion on those consolidated financial statements. In our opinion, the information set forth
in the accompanying condensed consolidated statement of financial position as of March 31, 2023, is fairly stated, in all material
respects, in relation to the consolidated statement of financial position from which it has been derived.
Basis for Review Results
These financial statements are the responsibility
of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect
to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the SEC and the PCAOB.
We conducted our review in accordance with the standards of the PCAOB. A review of interim financial statements consists principally of
applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less
in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.
/s/ Ernst & Young Associates LLP