Cadila Healthcare Q1 net profit dips 15% to Rs 132.7cr
Cadila Healthcare Wednesday said it has reported a 15% fall in its net profit during the first quarter of the current fiscal ended June 30 at Rs132.7 crore, as against Rs 152.9 crore registered in the corresponding quarter last fiscal.
Net sales of pharma major during the quarter rose by 4.8% on a year-on-year basis to Rs 819.4 crore.
The drug maker’s expenditure during the quarter also rose to Rs 628.5 crore in FY 13 from Rs 591.4 crore in FY12. Cadila's employee cost rose to Rs 127 crore in Q1 of 2012-13 to Rs 99.9 crore in the first quarter of 2011-12.
On a consolidated basis, Cadila Healthcare reported sales of Rs 1,547 crore, an increase by 30% . On the other hand, in the corresponding quarter of the previous fiscal, the company reported sales of Rs 1,189 crore.
In the domestic formulations market, Cadila Healthcare reported sales of Rs 582 crore, up by 27%. The pharma company also launched 30 new products including the line extensions, of which 10 products were first to be launched in India.
Meanwhile, during the quarter, Cadila Healthcare's revenues were driven by 50% year-on-year growth in the U.S. business and 37% growth in Brazil. The exports of the emerging markets also rose by 84%.
With the recent approval from USFDA for its facility at Moraiya, Cadila also aims to start getting new product approvals, which will also strengthen its U.S. business. It also strengthened its regulatory pipeline and also filed nine abbreviated new drug applications including 2 for injectible products, taking the cumulative number of US ANDA filings to 157.
Cadila Healthcare is the pharmaceutical company headquartered at Ahmedabad in Gujarat. It is the fifth largest pharmaceutical company in India and is the largest manufacturer of generic drugs.