Cadila Healthcare Q3 net profit up 41% to Rs 527 crore

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February 05, 2021 4:23 PM

Drug firm Cadila Healthcare on Friday reported a 41 per cent rise in its consolidated net profit to Rs 527.2 crore for the quarter ended December 2020 on account of robust sales in all segments.

US formulations business registered revenues of Rs 1,603 crore during the quarter.

Drug firm Cadila Healthcare on Friday reported a 41 per cent rise in its consolidated net profit to Rs 527.2 crore for the quarter ended December 2020 on account of robust sales in all segments. The company had posted a net profit of Rs 373.9 crore for the corresponding period of the previous fiscal, Cadila Healthcare said in a filing to BSE.
Consolidated revenue of the company stood at Rs 3,795.6 crore for the quarter under consideration. It was Rs 3,638.1 crore for the same period a year ago, it added.

“The company’s business in India geography which comprises human health formulations business, Consumer wellness business and Animal health business posted strong growth during the quarter as it grew by 20 per cent on a year-on-year basis and registered revenues of Rs 1,643 crore,” the filing said. US formulations business registered revenues of Rs 1,603 crore during the quarter, it added. The company filed 10 additional abbreviated new drug applications (ANDAs) with the United States Food and Drug Administration (USFDA) taking the cumulative number of filings to 410 and received 9 new product approvals (including 4 tentative approvals) from the USFDA, the filing said.

Continuing its fight against COVID-19, the company received approvals to start phase-III clinical trials of Pegylated Interferon Alpha-2b in India and the approval to start phase III clinical trials of its vaccine ZyCoV-D, it added. The trials for the vaccine are underway and will be tested across 60 locations in 30,000 healthy adult volunteers in India, it added. During the quarter, the company launched the oral anti-diabetic agent, Dapaglyn (Dapagliflozin) in India for patients suffering from Chronic Obstructive Pulmonary Disorder (COPD), the filing said.

In a separate filing Cadila Healthcare said its board has approved reappointment of Apurva S Diwanji as an Independent Director of the company for the second term of five consecutive years, with effect from May 13, 2021 till May12, 2026. Shares of Cadila Healthcare, listed entity of Zydus Group, were trading at Rs 481.30 per scrip on BSE, up 0.45 percent from its previous close.

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