Cadila Healthcare has posted a net profit of Rs 51.8 crore for the quarter ended September 30, 2005 as compared to Rs 43.2 crore for the similar period of last year. Total Income (net of excise) has increased from Rs 318.5 crore to Rs 349.7 crore.
The consolidated net profit went up to Rs 48 crore during the quarter ended September 2005 from Rs 34.90 crore in the last period. Total Income (net of excise) has increased from Rs 340.9 crore to Rs 387.5 crore for the quarter ended September 30, 2005.
During the quarter, the company registered growth of 90.7 per cent y-y in formulation exports. Following the launch of operations in US and Brazil in the first quarter, the company has now launched operations in South Africa. It also made headway with its operations in the US and received tentative approvals for Divalproex Sodium DR and Ribavirin Tablet from US FDA. Bolstering its newly launched operations in Brazil, the company received four more product approvals during the quarter under review, taking the total to 11 generic approvals. It also became the first Indian company in Taiwan to receive a product approval.
Besides this, Cadila signed 3 new contracts for contract manufacturing with international companies during the quarter. The company now has a total of 8 contracts with peak revenue potential of US$ 21 million.