Full Press Release Details
Review Report of Independent Registered
Public Accounting Firm
To the Shareholders and Board of Directors
of Dr. Reddy's Laboratories Limited
Results of Review of Interim Financial
We have reviewed the accompanying condensed
consolidated interim statement of financial position of Dr. Reddy's Laboratories Limited and subsidiaries (the Company) as
of September 30, 2018, the related condensed consolidated interim income statement and the statement of comprehensive income for
the three-month and six-month periods ended September 30, 2018, and the statements of changes in equity and cash flows for the
six month period ended September 30, 2018, and the related notes (collectively referred to as the "condensed consolidated
interim financial statements"). Based on our review, we are not aware of any material modifications that should be made to
the condensed consolidated interim financial statements referred to above for them to be in conformity with International Accounting
Standard (IAS) 34, Interim Financial Reporting as issued by the International Accounting Standards Board.
The condensed consolidated interim financial
statements of the Company as of September 30, 2017, and for the three-month and six month periods then ended, were reviewed by
other auditors whose report dated November 8, 2017 stated that based on their review they were not aware of any material modifications
that should be made to those statements for them to be in conformity with International Accounting Standard (IAS) 34, Interim
Financial Reporting as issued by the International Accounting Standards Board.
The consolidated statement of financial
position of the Company as of March 31, 2018, the related consolidated income statement, and the statements of comprehensive income,
changes in equity and cash flows for the year then ended (not presented herein) were audited by other auditors whose report dated
June 15, 2018 expressed an unqualified opinion on those statements.
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
Ernst & Young Associates LLP