Zydus Cadila Q4 net dips 1.8%

Company reported net profit of Rs 216.6 crore as against Rs 220.7 crore in the corresponding quarter last fiscal

Ahmedabad-based pharma major Cadila Healthcare (Zydus Cadila) posted a slight dip (1.8 per cent) in net profit for the quarter ended March 31, 2014 at Rs 216.6 crore against Rs 220.7 crore in the corresponding quarter last fiscal.

Total Income for the quarter increased from Rs 1003.2 crore in FY13 to Rs 1121.8 crore for the quarter ended March 31, 2014.

For the full year FY14, the company posted a net profit of Rs. 903.5 crore as compared to Rs. 498.5 crore for the year ended March 31, 2013, up 81 per cent. Total income increased from Rs 3580.3 crore for the year FY13 to Rs 4350.7 crore for the year ended March 31, 2014.

On a consolidated basis, the group has posted a net profit after taxes, minority interest and share of profit of associates of  Rs 239 crore for the quarter ended March 31, 2014 as compared to Rs 262 crore in the corresponding period last fiscal. Total Income has increased from Rs 1620 crore in Q4FY13 to Rs 1981.6 crore for the quarter ended March 31, 2014.

For the year 2013-14, net profit stood at Rs 803.5 crore up 23 per cent from Rs 653.4 crore in 2012-13. Total Income has increased from Rs 6394.7 crore for the year ended March 31, 2013 to Rs. 7274.7 crore for the year ended March 31, 2014.

The Board of Directors of the Company in their meeting proposed a dividend of  180 per cent.

“The topline growth was mainly driven by 30 per cent growth in formulation exports, which was buoyed by 44 per cent growth in sales in the US market and 17 per cent growth in the emerging markets. In the US, the group which is ranked amongst the 8th largest generic companies, launched seven new products. The group also launched operations in Mexico with launch of seven products during the year,” the company said in a statement.

The group filed 50 ANDAs during the year with the US FDA, taking the cumulative filings to 227.

It received 15 ANDA approvals during the year taking the total to 91 product approvals.