Cadila Healthcare, a Rs.9,200 crore pharma major has shown dismal performance during the first quarter ended June 2017 as its consolidated net profit declined sharply by 67.6 per cent to Rs.125.01 crore from Rs.386.30 crore in the similar period of last year. Its net sales declined by 3.6 per cent to Rs. 2,136 crore from Rs. 2,216 crore. EPS worked out to Rs.1.35 as against Rs.3.89 in the last period.
Lower profit impacted the Cadila scrip movements and it declined by Rs.6.40 to Rs.459 on BSE. The scrip touched to 52-week high level at Rs.558 on June 12, 2017 and lowest at Rs.329.95 on December 26, 2016. Current market capitalization worked out to Rs.47,194 crore.
Recently Cadila received tentative approval for abacavir and lamivudine tablets from US FDA. This drug is indicated for use in antiretroviral combination therapy for the treatment of human immunodeficiency virus (HIV) infection. Similarly it also received US FDA approval for diltiazem hydrochloride extended – release capsules USP which is used in the treatment of hypertension, angina and certain heart rhythm disorders.