Cadila Healthare shares surge nearly 6% on smart earnings

MUMBAI: Shares of Cadila Healthcare today surged nearly 6 per cent after pharma firm reported 81.54 per cent increase in consolidated net profit for the third quarter ended December 31.

Cadila's stock ended the day 5.85 per cent higher at Rs 903.15 on the BSE. During the day, the scrip rose by 7.35 per cent to Rs 915.95. At the NSE, the drug firm's stock zoomed 5.46 per cent to close at Rs 901.45.

Cadila today reported 81.54 per cent increase in consolidated net profit at Rs 185.97 crore for the third quarter ended December 31, 2013. It had reported net profit of Rs 102.44 crore in October-December quarter last year.

"Cadila Healthcare's results came above expectations on the net profit," said Sarabjit Kour Nangra, VP-Research-Pharma, Angel Broking.

Net sales were up at Rs 1,838.04 crore as against Rs 1,561.02 crore in the year-ago period, the company said in a BSE filing. Overall expenses in the third quarter were at Rs 1,626 crore, compared to Rs 1,402.94 crore in the same quarter of last fiscal.