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Cadila Healthcare profits jumps by 68% in Q3

Our Bureau, Mumbai
Friday, February 9, 2018, 15:40 Hrs  [IST]

Cadila Healthcare, a Rs.9,400 crore Ahmedabad based pharma giant, has registered impressive financial performance during the third quarter ended December 2017 due to higher sales. The consolidated net profit increased by 67.6 per cent to Rs.543 crore from Rs.324 crore in the corresponding period of last year. Its net sales also moved up smartly by 38.4 per cent to Rs.3,192 crore from Rs.3,207 crore. With strong upward movements in profits, EPS went up to Rs.5.31 from Rs.3.16 in the last period.

Cadila received approval for 24 new products for the US market and filed 10 additional ANDAs with the US FDA. It launched 2 new products in the US during the quarter. In India, the company launched 12 new products including line extensions during the quarter with 4 first in India launches.

It received one marketing approval from the Mexican regulatory authority COFEPRIS to commercialize Lipaglyn (saroglitazar magnesium) in Mexico for the treatment of dyslipidemia in patients with diabetes mellitus type 2 and hypertriglyceridemia in patients with diabetes mellitus type 2 not controlled by statins.

Cadila entered into a public private partnership with the Indian Council of Medical Research during the quarter to launch new diagnostic kits, developed by ICMR's National Institute of Virology to detect neglected infectious diseases in livestock.

For the first nine months ended December 2017, Cadila's consolidated net sales increased by 22.5 per cent to Rs.8,514 crore from Rs.6,951 crore in the similar period of last year. Its net profit increased by 7.5 per cent to Rs.1,185 crore from Rs.1,102 crore. EPS worked out to Rs.11.58 as against Rs.10.77 in the last period. Interest cost went up to Rs.7.60 crore from Rs.3.51 crore and depreciation charges moved up to Rs.396 crore from Rs.261 crore. Similarly, Taxation provision increased to Rs.420 crore from Rs.127 crore.


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