Cadila Healthcare, a Rs.6,150 crore pharma major from Ahmedabad, has failed to generate higher net profit despite significant lower interest and taxation provision during first quarter ended June 2013. Its consolidated net profit increased only by 0.4 per cent to Rs.195.62 crore from Rs.194.79 crore in the corresponding period of last year. Its interest cost declined by 51.3 per cent to Rs.27.84 crore from Rs.57.19 crore and taxation by 68.9 per cent to Rs.20.31 crore from Rs.65.37 crore. Its EBDITA declined by 18.7 per cent to Rs.298.32 crore from Rs.366.92 crore. The earnings per share remained almost same at Rs.9.55 during the first quarter ended June 2013.
Its consolidated net sales improved by 6 per cent to Rs.1,607 crore during the quarter under review from Rs.1,516 crore.
The company's standalone net sales increased by 13.8 per cent to Rs.706.98 crore from Rs.621.29 crore in the same quarter of last year. Its standalone net profit went up by 141 per cent to Rs.319.67 crore from Rs.132.70 crore mainly due to higher other income of Rs.217.55 crore as against Rs.2.69 crore in the last period. Further, its standalone interest cost declined to Rs.14.53 crore from Rs.38.69 crore.
The company has incorporated Zydus Healthcare Philippines Inc, a wholly owned subsidiary, in Philippines. It has made an initial investment of Rs.1.19 crore. Further, Cadila has made investment of Rs.12.80 crore in Zydus International Pvt Ltd, Rs.20 crore in Dlalforhealth India Ltd and Rs.1.50 crore in Zydus BSV Pharma Pvt Ltd during the quarter unde review.