Zydus Cadila Q1 net up 15.38% at Rs 229.82 crore
Ahmedabad-based Zydus Cadila today said its consolidated net profit rose by 15.38 per cent to Rs 229.82 crore in the first quarter ended June 30, 2011.
By PTI | Updated:
NEW DELHI: Ahmedabad-based Zydus Cadila today said its consolidated net profit rose by 15.38 per cent to Rs 229.82 crore in the first quarter ended June 30, 2011.
The company had reported a net profit of Rs 199.18 crore for the same period last fiscal, Zydus Cadila said in a statement.
The company's total income stood at Rs 1,252 crore for the first quarter ended June 30, 2011, compared to Rs 1,136.65 crore in the same period of the previous fiscal.
During the quarter, group firm Zydus Pharmaceuticals USA Inc, through its subsidiary Zynesher Pharmaceuticals, entered into an agreement to acquire the assets of US-based pharma company Nesher Pharmaceuticals.
"Through this acquisition, the company aims to gain access to a difficult-to-develop product pipeline, expertise and infrastructure that will add value to its operations in the US," it said.
In addition, during the quarter, Bayer Zydus Pharma, the company's 50:50 joint venture with Bayer Schering Pharma, commenced commercial operations in India.
The company had reported a net profit of Rs 199.18 crore for the same period last fiscal, Zydus Cadila said in a statement.
The company's total income stood at Rs 1,252 crore for the first quarter ended June 30, 2011, compared to Rs 1,136.65 crore in the same period of the previous fiscal.
During the quarter, group firm Zydus Pharmaceuticals USA Inc, through its subsidiary Zynesher Pharmaceuticals, entered into an agreement to acquire the assets of US-based pharma company Nesher Pharmaceuticals.
"Through this acquisition, the company aims to gain access to a difficult-to-develop product pipeline, expertise and infrastructure that will add value to its operations in the US," it said.
In addition, during the quarter, Bayer Zydus Pharma, the company's 50:50 joint venture with Bayer Schering Pharma, commenced commercial operations in India.
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