The drugmaker's profits rose as it increased sales and paid less in interest charges
Ahmedabad: Drugmaker Cadila Healthcare Ltd, also known as Zydus Cadila, posted a 46% increase in net profit for the quarter ended 31 March as it increased sales and paid less in interest charges.
Net profit rose to ₹ 350 crore in the three months from ₹ 239 crore a year earlier, on an 18% rise in gross sales to ₹ 2,297 crore from ₹ 1,952 crore.
For the full year to 31 March, Zydus Cadila registered a net profit of ₹ 1,151 crore, up 43% from ₹ 804 crore. In the year, the company registered gross sales of ₹ 8,658 crore, up 20% from ₹ 7,208 crore in the previous year on a consolidated basis.
During the year, the group launched Exemptia, the world’s first biosimilar for adalimumab, a drug used for reducing the signs and symptoms of rheumatoid arthritis. The group also launched SoviHep, a therapy for Hepatitis C, in alliance with Gilead Sciences Inc.