Cadila Healthcare nears 52-week low post June quarter results

The stock slipped 5% to Rs 336, extending its 6% decline on Monday, trading close to its 52-week low of Rs 333 touched on July 20, 2018 on the BSE in intra-day trade.

Shares of Cadila Healthcare have slipped 5% to Rs 336 per share, extending their 6% decline on Monday on the BSE, after the company reported a lower-than-expected 30% year on year (YoY) growth in net sales at Rs 28.94 billion in the June quarter (Q1FY19) due to lower US sales.

The company’s net profit grew by 233% YoY to Rs 4.60 billion in Q1FY19 due to other income of Rs 1.01 billion.

Analysts on an average had expected net sales of Rs 31.21 billion and profit of Rs 4.65 billion for the quarter.

The company’s business in the