Cadila Healthcare dips on disappointing Q3 earnings
The operating profit margins contracted by 349bps to end the quarter at 13.6% due to higher rise in the R&D and other expenditure.
Cadila Healthcare has dipped 6% to Rs 743, extending its previous day’s 3% fall, on reported 31% year-on-year (yoy) drop in consolidated net profit at Rs 103 crore for the quarter ended December 31, 2012 (Q3) due to higher tax outgo and raw material cost.
“The income from operations, however, increased by around 15% to Rs 1621.1 crore from Rs 1401.4 crore in the corresponding period last fiscal,” Cadila Healthcare said in a statement.
The operating profit margins contracted by 349bps to end the quarter at 13.6% due to higher rise in the R&D and other expenditure.
The company’s total raw material cost in Q3 increased by 60% to Rs 398 crore, while tax payment surged by almost four-fold to Rs 63 crore over the previous year quarter.
The stock opened at Rs 780 and hit a low of Rs 720 on NSE. As many as a combined 182,615 shares have already changed hands on the counter in morning deals against an average 160,000 shares that were traded daily in past two weeks on NSE and BSE
“The income from operations, however, increased by around 15% to Rs 1621.1 crore from Rs 1401.4 crore in the corresponding period last fiscal,” Cadila Healthcare said in a statement.
The operating profit margins contracted by 349bps to end the quarter at 13.6% due to higher rise in the R&D and other expenditure.
The company’s total raw material cost in Q3 increased by 60% to Rs 398 crore, while tax payment surged by almost four-fold to Rs 63 crore over the previous year quarter.
The stock opened at Rs 780 and hit a low of Rs 720 on NSE. As many as a combined 182,615 shares have already changed hands on the counter in morning deals against an average 160,000 shares that were traded daily in past two weeks on NSE and BSE