Cadila Healthcare Q3 net up 114%

Cadila Healthcare has posted a rise of 114 per cent in its net profit for the quarter ended December at Rs 130 crore compared with Rs 61 crore in the previous corresponding quarter. The company’s total income during the period rose 31 per cent to Rs 993 crore from Rs 761 crore last year.

The income growth was mainly driven by formulation exports, which registered a growth of 45 per cent. In the US, the company posted sales of Rs 178 crore, up 67 per cent. While in the European market, the company’s sales grew 32 per cent to Rs 104 crore.

The domestic formulations business grew by 17 per cent. Meanwhile, the company also launched 24 new products in India.

During December quarter, company acquired the balance 30 per cent in Simayla Pharmaceuticals in South Africa, thereby making it a 100 per cent subsidiary.

On the Bombay Stock Exchange, the company’s stocks closed strong on Monday at Rs 649.80, up 0.65 per cent.