BackCadila Healthcare Q4 net up 50.4%; beats forecast
Cadila Healthcare Q4 net up 50.4%; beats forecast
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Mumbai: Drugmaker Cadila Healthcare’s quarterly net profit jumped 50.4 %, substantially beating street estimates, on robust growth in sales coupled with forex gains.
The Ahmedabad-based firm on Friday reported a consolidated net profit of ₹ 179 crore on net sales of ₹ 1,169 crore for January-March.
A Reuters’ poll of 18 brokerages had forecast a consolidated quarterly net profit of ₹ 143 crroe on net sales of ₹ 1,030 crore for Cadila.
The company, which has manufacturing and marketing tie-ups with global firms like Abbott Laboratories , Bayer AG, Hospira Inc and unlisted Swiss drugmaker Nycomed, reported a 43.25% rise in January-March net sales, it said.
The rise in profit was also boosted by foreign exchange gains of 160.1 million rupees in January-March versus a loss of ₹ 1.11 crore last year, it said.
On Thursday, Cadila’s unit Zydus Wellness reported an 8% rise in net profit to ₹ 18.81 crore on net sales of ₹ 77.39 crroe in January-March.
At 2:07 p.m., shares of Cadila Healthcare were trading at ₹ 873.90, up 2.83% in a firm Mumbai market.
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