Cadila Healthcare Q3 net dips by 4.4%, sales rise 20%
Cadila Healthcare, the flagship company of Zydus group, has suffered a 4.4% drop in its third quarter net profit on account of forex losses.
By ET Bureau | Updated:
AHMEDABAD: Cadila Healthcare, the flagship company of the Ahmedabad-based Zydus group, has suffered a 4.4% drop in its third quarter net profit on account of forex losses. The consolidated net profit dropped by 8% to Rs 149.21 crore, as per a BSE filing. It’s the second time in the current fiscal, that the company reported dip in the consolidated net profit.
A company statement said, the consolidated net profit, in fact, rose 7% to to Rs 177 crore if the impact of foreign exchange fluctuations was not taken into account.
The net profit of Zydus Wellness, the consumer arm, too has dropped by 5%. Wellness net dropped from Rs 19.56 crore from last year to Rs 18.64 crore this year. Net sales were down by 57.94% from Rs 90.76 in last corresponding Q3 to Rs 38.17 crore this year.
Cadila Healthcare’s standalone net profit dropped to Rs 134.21 crore for the third quarter (Q3) ended on December 31, 2011, compared to Rs 140.38 crore for the same period of the previous year. Cadila Healthcare’s net sales however, grew by 20.42% to Rs 652.86 crore for the Q3 FY 2011 compared to Rs 542.13 crore for the same corresponding period of the previous year.
A company statement claims that Zydus Cadila’s total income rose by 20% on a consolidated basis.
The company’s consolidated net profit faced a 40% decline during the second quarter, followed by dip of 8% in Q3 for the current fiscal year during which the group acquired Mumbai-based Biochem Pharmaceutical Industries Ltd. It also divested in ZEST Aviation Private Ltd (Rs 2 crore) and making additional investment of Rs 2.60 crore in Zydus BSV Pharma Private Ltd.
The group launched biosimilar drug PegiHep in the Indian market, used in the treatment of Hepatitis B & C. The drug is the fifth biosimilar product developed at the Zydus Research Centre. During December, the company expanded its scientific advisory board at Zydus Research Centre by including Dr Rolf G Werner and Dr Balu Balasubramanian.
The group’s India formulations business grew by 18% during the quarter which also saw launch of 15 new products.
Nesher, the group’s subsidiary in the US, posted a growth of 45%. The group also posted a growth of 44% in sales in Japan.
A company statement said, the consolidated net profit, in fact, rose 7% to to Rs 177 crore if the impact of foreign exchange fluctuations was not taken into account.
The net profit of Zydus Wellness, the consumer arm, too has dropped by 5%. Wellness net dropped from Rs 19.56 crore from last year to Rs 18.64 crore this year. Net sales were down by 57.94% from Rs 90.76 in last corresponding Q3 to Rs 38.17 crore this year.
Cadila Healthcare’s standalone net profit dropped to Rs 134.21 crore for the third quarter (Q3) ended on December 31, 2011, compared to Rs 140.38 crore for the same period of the previous year. Cadila Healthcare’s net sales however, grew by 20.42% to Rs 652.86 crore for the Q3 FY 2011 compared to Rs 542.13 crore for the same corresponding period of the previous year.
A company statement claims that Zydus Cadila’s total income rose by 20% on a consolidated basis.
The company’s consolidated net profit faced a 40% decline during the second quarter, followed by dip of 8% in Q3 for the current fiscal year during which the group acquired Mumbai-based Biochem Pharmaceutical Industries Ltd. It also divested in ZEST Aviation Private Ltd (Rs 2 crore) and making additional investment of Rs 2.60 crore in Zydus BSV Pharma Private Ltd.
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The group launched biosimilar drug PegiHep in the Indian market, used in the treatment of Hepatitis B & C. The drug is the fifth biosimilar product developed at the Zydus Research Centre. During December, the company expanded its scientific advisory board at Zydus Research Centre by including Dr Rolf G Werner and Dr Balu Balasubramanian.
The group’s India formulations business grew by 18% during the quarter which also saw launch of 15 new products.
Nesher, the group’s subsidiary in the US, posted a growth of 45%. The group also posted a growth of 44% in sales in Japan.
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