Cadila Healthcare’s Q1 net declines by 75 percent

Cadila Healthcare Ltd. has reported a net profit of Rs 79 crore for the quarter ended June 2019, a sharp decline by about 75 percent from Rs 310 crore in the corresponding quarter last year. Total standalone revenues of the company’s operations fell to Rs 1344 crore for the quarter as against Rs 1505 crore reported in the same quarter last year. On consolidated basis, the company’s net profit stood at Rs 304 crore for the quarter, decline by 34 percent as against Rs 460 crore reported for the same period last year. The company reported consolidated revenues from operations at Rs 3496 crore (Rs 2894 crore). Earnings-before-interest, depreciation and tax (EBIDTA) for the same quarter was Rs 632 crore.

The consolidated financial results for the quarter ended June 30, 2019, include the operations of Heinz India Private Ltd., which got merged into Zydus Wellness products Ltd. Hence, the financial results for the quarter ended June 30, 2019, are not comparable with those of the previous period. The company’s India business, which comprises human formulations, consumer wellness, and animal health business, posted sales of Rs 1675 crore for the quarter. The company’s business in the US posted sales of Rs 1367 crore for the quarter ended June this year. During the quarter, the company launched eight new products in the US. It filed four additional abbreviated new drug applications (ANDAs) with the United States Food and Drug Administration (USFDA) and received 10 ANDA approvals during the quarter. The business in emerging markets of Asia, Africa, and Latin America posted sales of Rs 220 crore during the quarter under review.

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