Cadila profit up 32.5% on strong growth in US

Mint ST - - CORPORATE - BY ISHA TRIVEDI isha.t@livemint.com MUM­BAI

Cadila Health­care Ltd, In­dia’s third-largest phar­ma­ceu­ti­cal firm by mar­ket value, on Tues­day re­ported a 32.5% year-on-year rise in con­sol­i­dated net profit for the Septem­ber-quar­ter, driven by strong US growth af­ter it launched a generic of Lialda, an in­flam­ma­tory bowel dis­ease drug, with a six-month mar­ket­ing ex­clu­siv­ity pe­riod.

The Ahmed­abad-based com­pany posted a con­sol­i­dated net profit of Rs503.3 crore in the Septem­ber quar­ter, as against Rs379.9 crore in the same pe­riod a year ear­lier. Sales in­creased 32.2% on year to Rs3,154.9 crore dur­ing the quar­ter.

A Bloomberg poll of 22 an­a­lysts had es­ti­mated Cadila Health­care’s con­sol­i­dated net profit at Rs484.30 crore and sales at Rs2,824.50 crore for the quar­ter. Cadila’s US busi­ness recorded sales of Rs1,644 crore, up 66% from a year ear­lier. It launched four prod­ucts in US dur­ing the quar­ter.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.