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Zydus Cadila Q1 net profit declines 34% to Rs 303.6 crore

Drug firm Cadila Healthcare on Friday reported a consolidated net profit of Rs 303.6 crore for the quarter ended June 30, 2019.

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Zydus Cadila Q1 net profit declines 34% to Rs 303.6 crore
The company''s business in the US posted sales of Rs 1,367 crore for the quarter ended June this year, it added.

Drug firm Cadila Healthcare on Friday reported a consolidated net profit of Rs 303.6 crore for the quarter ended June 30, 2019.

The company had posted a net profit of Rs 460.5 crore in the corresponding period of the previous fiscal, Cadila Healthcare said in a filing to the BSE.

Consolidated total income from operations stood at Rs 3,496.3 crore for the quarter under consideration. It was at Rs 2,893.7 crore in the corresponding quarter last year.

"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," Cadila Healthcare said.

The company''s India business, which comprises human formulations, consumer wellness and animal health business, posted sales of Rs 1,675 crore for the quarter, it said.

The company''s business in the US posted sales of Rs 1,367 crore for the quarter ended June this year, it added.

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, Cadila Healthcare said.

The company''s business in emerging markets of Asia, Africa and Latin America posted sales of Rs 220 crore during the quarter under review, it added.

Shares of Cadila Healthcare closed at Rs 234 per scrip on the BSE, down 0.23 per cent from its previous close.

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