Dr. Reddy's Laboratories (RDY) said Wednesday its step-down Russian subsidiary has received a final tax penalty of 9.27 million Russian rubles ($122,575) from the Interdistrict Inspectorate of the Federal Tax Service of Russia, according to a regulatory filing.

The penalty, reduced from an originally quantified amount of 20.09 million rubles, stems from a value-added tax reassessment after the Russian tax authority reclassified marketing services as taxable services, the company said.

"Based on our evaluation, the above stated penalty amount has no material impact on the financials, operations, or other activities of the company," Dr. Reddy's said, according to the filing.