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Cadila Healthcare net profit rises 4.11% to Rs 1,849 crore in FY19; board declares dividend of Rs 3.50 per share

BusinessToday.In     May 29, 2019

Cadila Healthcare, a Zydus Group's flagship company, on Wednesday reported 4.11 per cent growth in consolidated net profit at Rs 1,849 crore for the financial year ended March 31, 2019. The drug maker had reported net profit of Rs 1,776 crore in the financial year 2017-18.

"Consolidated net sale rose by 10.76 per cent to Rs 13,367 crore in FY19 from Rs 12,068 crore reported in the financial year 2017-18," Cadila Healthcare said in a filing to the Bombay Stock Exchange.

On the standalone basis, the company's profit climbed by 46.87 per cent year-on-year to Rs 1,602.10 crore during the financial year 2018-19.

The other income of the company increased to Rs 611.60 crore from Rs 207.90 crore in the last fiscal.

During January-March quarter, Cadila Healthcare posted 22.1 per cent year-on-year decline in consolidated net profit at Rs 460 crore, while consolidated revenue climbed 15.3 per cent to Rs 3,771.2 crore compared to the same period last year.

The standalone net profit rises 8 per cent to Rs 262 crore from Rs 243 crore in the corresponding quarter a year ago. Total revenues stood at Rs 1,714 crore during the quarter ended March 2019, up from Rs 1,501 crore in the same period last year.

Also Read: Sun Pharma net profit rises 27.2% to Rs 2,665.42 crore in FY19; revenue up 10%

"The consolidated financial results included results of operations of the acquired business of Heinz India Pvt Ltd, for two months," Cadila said. During the year, the company also acquired a 51 per cent stake in Dehradun-based Windlas Healthcare Private Limited (WHPL).

Strengthening its regulatory pipeline, the company filed 29 abbreviated new drug application (ANDAs) during the year with the US FDA, taking the cumulative filings to 360. The company received 74 ANDA approvals taking the total to 254 product approvals, Cadila added.

During the year 2018-19, Cadila Healthcare entered into a collaborative research agreement with the Council of Scientific and Industrial Research (CSIR) - Institute of Microbial Technology (IMTECH) - to identify new drug candidates for the treatment of drug-resistant infections.

Also Read: Pfizer net profit climbs 17.23% to Rs 430.10 crore in FY19; board declares dividend of Rs 22.50 per share

Cadila board has recommended a dividend of Rs 3.50 (350%) per equity share of Re 1 each for the financial year ended on March 31, 2019, subject to shareholders approval at the Annual General Meeting.

Cadila Healthcare shares closed trade at Rs 263.65 apiece, up 1.70 per cent, on the Bombay Stock Exchange on Wednesday.

Edited by Chitranjan Kumar

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