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Cadila Healthcare’s Q3 net profit declines 27 pc to Rs 374 cr

The company had posted a net profit of Rs 510.7 crore for the corresponding period of the previous fiscal, Cadila Healthcare said in a filing to the BSE

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Drug firm Cadila Healthcare reported a 26.78 decline in consolidated net profit at Rs 373.9 crore for the quarter ended December, mainly on account of rise in expenses.

The company had posted a net profit of Rs 510.7 crore for the corresponding period of the previous fiscal, Cadila Healthcare said in a filing to the BSE.

Total revenue from operations stood at Rs 3,638.1 crore for the quarter under review as compared with Rs 3,577.9 crore in the year-ago period.

“During the quarter, the company launched 9 new products in the US which included a day one launch. The company filed 14 additional abbreviated new drug applications (ANDAs) with the United States Food and Drug Administration (USFDA) taking the cumulative number of filings to 386,” Cadila Healthcare said.

The company received eight new product approvals (including two tentative approvals) from the USFDA during the quarter, it added.

It launched oral anti-diabetic agent, Vinglyn and Vinglyn M in India during the quarter, Cadila Healthcare said.

Shares of Cadila Healthcare on Wednesday closed 2.71 per cent higher at Rs 271.20 per scrip on the BSE.

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