Cadila Healthcare Q1 net profit sees over three-fold jump to Rs 4.605 bn

Cadila launched nine new products in the US during the quarter

Cadila Healthcare on Monday reported an over three-fold jump in consolidated net profit to Rs 4.605 billion (Rs 460.5 crore) for the quarter ended June 30, 2018, on account of robust sales. 

The company had reported a net profit of Rs 1.384 billion (Rs 138.4 crore) in the year-ago period, Cadila Healthcare said in a BSE filing.

Total revenue from operations stood at Rs 28.937 billion (Rs 2,893.7 crore) for the reported quarter. It was Rs 22.348 billion (Rs 2,234.8 crore) in the same period a year ago.

"The company's business in the US posted sales of Rs 12.3 billion (Rs 1,230 crore), up 27 per cent," it said.

During the quarter, the company launched nine new products in the US. It filed three additional abbreviated new drug applications (ANDAs) with the US health regulator and received 13 ANDA approvals during the quarter.  

"The India formulations business posted sales of Rs 8.93 billion (Rs 893 crore), up 40 per cent," the company said.

Shares of Cadila Healthcare were trading at Rs 354.80 per scrip on BSE, down 5.76 per cent from its previous close.