Mumbai: Drugmaker Cadila Healthcare’s consolidated quarterly net profit rose 25.6%, largely in line with street estimates, on robust sales in domestic and overseas markets.
The Ahmedabad-based firm on Tuesday reported a consolidated net profit of Rs162 crore on net sales of Rs1,134 crore for October-December.
A Reuters’ poll of 21 brokerages had forecast a consolidated quarterly net profit of Rs166 crore on net sales of Rs1,148 crore for Cadila. The growth in income was mainly driven by a 20% rise in exports of formulations during the quarter while the domestic formulations business grew 17% on year, the drugmaker said in a statement. Income during the quarter was Rs1,134 crore from Rs965 crore a year ago.
Cadila’s US sales rose 33% on year as it launched four new products in the October-December period, it added.
December quarter sales in Brazil and Japan rose 33% and 22% on year respectively, it added.
At 1:48 pm, shares of Cadila Healthcare, valued at about $3.49 billion, were trading flat at Rs775 in a firm Mumbai market.