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Cadila Healthcare share price gains over 6% on three-fold rise in Q3 profit

BusinessToday.In     February 6, 2020

Cadila Healthcare share price rose in early trade today after the firm reported a 249% rise in its Q3 net profit on a sequential basis. Share price of Cadila Healthcare gained up to 6.10% to Rs 288.40 compared to the previous close of Rs 271.20 on BSE.

The large cap stock has gained 8.74% in last three days. However, Cadila Healthcare share price has lost 10.65% during the last one year. 1.19 lakh shares changed hands amounting to turnover of Rs 3.36 crore on BSE.

Drug firm Cadila Healthcare reported a 249% rise in Q3 net profit at Rs 373.9 crore compared to Rs 82.90 crore profit in Q2 of current fiscal.

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However on an year-on-year basis,  consolidated net profit fell 26.78% in Q3 on account of rise in expenses.

The company had posted a net profit of Rs 510.7 crore for the corresponding period of the previous fiscal.

Revenue from operations stood at Rs 3,638.1 crore for the quarter under review as compared with Rs 3,577.9 crore in the year-ago period.

The company received eight new product approvals (including two tentative approvals) from the USFDA during the quarter.

It launched oral anti-diabetic agent, Vinglyn and Vinglyn M in India during the quarter, Cadila Healthcare said.

By Aseem Thapliyal

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