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Zydus Cadila net profit rises 41% to Rs 527 cr in Q3

Cadila says its business in India, which comprises human health formulations, consumer wellness and animal health, posted strong growth during the quarter as it rose 20 per cent on a y-o-y basis and recorded revenues of Rs 1,643 crore

twitter-logoBusinessToday.In | February 5, 2021 | Updated 15:05 IST
Zydus Cadila net profit rises 41% to Rs 527 cr in Q3
The company's consolidated revenues for the December quarter stood at Rs 3,796 crore

Homegrown pharma major Zydus Cadila reported a 41 per cent jump in the net profit on year-on-year basis to Rs 527 crore in the October-December quarter. Cadila had recorded Rs 373.9 crore profit in the same quarter last year. The company's consolidated revenues for the December quarter stood at Rs 3,796 crore, up 4 per cent Y-o-Y from Rs 3,638 crore during the same quarter last year.

Consolidated net sales for the quarter grew 6 per cent to Rs 3,754 crore, while consolidated revenues grew 4 per cent YoY to Rs 3,796 crore. Cadila's earnings before interest, depreciation and tax (EBIDTA) rose 16 per cent to Rs 807 crore. The company said its business in India, which comprises human health formulations, consumer wellness and animal health, posted strong growth during the quarter as it grew 20 per cent on a y-o-y basis and recorded revenues of Rs 1,643 crore.

Also read: How Zydus Wellness is trying to regain Complan's lost glory

"Human health formulations business grew 21 per cent; consumer wellness 16 per cent; and animal health business 17 per cent y-o-y during the quarter," Cadila said in a statement to the exchanges. Cadila's US formulations business clocked Rs 1,603 crore revenue during the quarter.

Also read: Zydus Cadila gets US health regulator's nod for thyroid drug

"The company filed 10 additional ANDAs (abbreviated new drug application) with the USFDA (US Food and Drug Administration) taking the cumulative number of filings to 410 and received 9 new product approvals (including 4 tentative approvals) from the USFDA," said the company. Notably, Cadila has also received approvals to start Phase 3 clinical trials of Pegylated Interferon Alpha-2b in India and the approval to start Phase III clinical trials of its vaccine ZyCoV-D. "The trials for the vaccine are underway and will be tested across 60 locations in 30,000 healthy adult volunteers in India," the company said.

Cadila Healthcare Ltd stock was trading 0.72 per cent or Rs 3.45 up to Rs 482.6 on the Bombay Stock Exchange as of the filing of the report on Friday.

Also read: Zydus Cadila's biotech drug to treat COVID-19 gets DCGI nod for Phase III trials

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