scorecardresearch
Zydus Cadila Q1 net profit rises 29% to Rs 587 cr, revenue up 15%

Zydus Cadila Q1 net profit rises 29% to Rs 587 cr, revenue up 15%

The pharma company's revenue from operations rose 15 per cent YoY to Rs 4,025 crore, while EBITDA jumped 18 per cent to Rs 933 crore.

On its COVID-19 portfolio, Zydus Cadila said it has undertaken research in monoclonal antibodies cocktail to neutralise COVID infection. On its COVID-19 portfolio, Zydus Cadila said it has undertaken research in monoclonal antibodies cocktail to neutralise COVID infection.

Zydus Cadila on Wednesday reported a 29 per cent year-on-year (YoY) increase in consolidated net profit at Rs 587 crore for April-June quarter. Sequentially, the profit was higher by 19 per cent.
 
The pharma company's revenue from operations rose 15 per cent YoY to Rs 4,025 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 18 per cent to Rs 933 crore. EBITDA margin expanded to 23.2 per cent from 22.5 per cent in the year-ago quarter.
 
"The company's India business which comprises human formulations and consumer wellness business which contributed to 50 per cent of consolidated revenues during the quarter, witnessed a very strong growth of 43 per cent on a YoY basis, posting sales of Rs 1,943 crore during the quarter," Zydus Cadila said in a release.
 
The US business registered 11 per cent decline in sales at Rs 1,451 crore, while the rest of the world business grew by 17 per cent YoY during the quarter to post sales of Rs 277 crore.
 
Zydus Cadila said it spent Rs 295 crore on research and development (R&D) during the quarter, while the capital expenditure was at Rs 265 crore. The company's net debt stood at Rs 3,112 crore at the end of June quarter as against Rs 3,496 crore at the end of preceding March quarter.
 
On its COVID-19 portfolio, Zydus Cadila said it has undertaken research in monoclonal antibodies cocktail to neutralise COVID infection.
 
Also Read: 'Animal spirit missing from the corporate sector', says Revenue Secretary Tarun Bajaj

"The company initiated the clinical trials of its monoclonal antibodies cocktail that can neutralise COVID-19 infection. ZRC-3308, a cocktail of two SARS-CoV-2-neutralising monoclonal antibodies (mAbs) can emerge as one of the main treatments for mild COVID-19. Zydus is the only Indian company to have developed a neutralising monoclonal antibody based cocktail for the treatment of COVID-19," the company said.
 
Besides, it said it has also applied to DCGI for emergency use authorisation for ZyCoVD, world's first plasmid DNA vaccine for human use after conducting the largest vaccine trial so far in India for COVID-19.
 
"Continuing with its efforts to provide easily accessible therapy to fight black fungus or mucormycosis in India, Zydus and TLC a specialty pharmaceutical company in Taiwan signed a license supply and commercialisation agreement to commercialise AmphoTLC (Amphotericin B Liposome for Injection 50mg) in India," it added.
 
Shares of Cadila Healthcare were trading 2.61 per cent lower at Rs 562.70 on the BSE on Wednesday.
 
Also Read: Zomato share rises 6% despite Rs 356 crore loss in Q1

Published on: Aug 11, 2021, 2:52 PM IST
Posted by: Vinay Rai, Aug 11, 2021, 2:44 PM IST