Zydus Cadila Q1 net up 23%

Posts Rs 240 cr profit on the back of 25% rise in sales

Ahmedabad-based pharma major Zydus Cadila has reported a growth of 23 per cent in its consolidated net profit for the quarter ended June 30, 2014 to Rs 240 crore on the back of a 25 per cent rise in its sales from Rs 1646 crore in the corresponding quarter last fiscal to Rs 2057 crore.

Sales growth was buoyed by the company's formulations business in US, which grew by 88 per cent during the quarter. During the quarter, the group filed 26 additional abbreviated new drug applications (ANDAs) with the US Food and Drugs Administration (USFDA) and launched 4 new products in the US during the quarter.

"The group posted a growth of 19% with 12 new product launches in the different emerging markets during the quarter. In the domestic formulations market, the company launched 19 new products, including line extensions, of which 6 products were the first to be launched in India," the company said in a statement.