Cadila Healthcare Q3 net grows four times on exports growth

Cadila Healthcare’s consolidated net profit up 82% (YoY)
Ahmedabad February 8, 2014:- Ahmedabad-based drug major Cadila Healthcare Limited posted a four times rise in its net profit for the third quarter ended December 31, 2013, at Rs 195 crore, compared to Rs 48.6 crore in the corresponding quarter last fiscal mainly on the back of growth in exports.

The total income for the quarter stood at Rs 1087.4 crore, up 24 per cent from last year’s Rs 872.28 crore.

On a consolidated basis, the company’s net profit grew by 81.5 per cent to Rs 186 crore, on the back of a 17 per cent rise in total income which stood at Rs 1872 crore from Rs 1604 crore in the corresponding quarter last fiscal.

During the quarter, the company’s business in the US registered a growth of 61 per cent and emerging markets business grew by 30 per cent.

The company filed 31 additional ANDAs with the USFDA during the quarter under review taking the cumulative ANDA filings for the period April-December 2013, to 49. Cadila Healthcare also received the USFDA approval for initiating Phase I clinical trials of ZYDPLA1, its diabetes drug. Sarabjit K Nangra, vice-president, research, Angel Broking said that the results came above expectations on the net profit. Business Standard