Cadila Healthcare, a Rs.6,275 crore Ahmedabad based pharma giant, has posted strong growth in bottom line during the third quarter ended December 2013 and its consolidated net profit grew by 81.5 per cent to Rs.185.97 crore from Rs.102.44 crore in the corresponding period of last year. Lower interest cost and taxation assisted well for growth. The consolidated net sales also moved up by 17.8 per cent to Rs.1,838 crore from Rs.1,561 crore. Its EBDITA increased by 16.9 per cent to Rs.308.04 crore from Rs.263.62 crore. The strong growth in net profit pushed its EPS to Rs.9.08 from Rs.5 in the last period.
After the announcement of strong bottom line growth, Cadila scrip moved up by Rs.22.70 or 2.6 per cent to Rs.875.90 on the BSE.
Cadila's business in the US registered a growth of 61 per cent emerging markets business grew by 30 per cent. The company filed 31 additional ANDAs with US FDA taking the cumulative ANDA filings for the period April-December 2013 to 49. In Mexico, the company launched 2 new products, taking the cumulative launches to 6 and filed 8 dossiers with the Mexican regulatory authority, taking the cumulative filings to 36. The company filed 9 dossiers with the ANVISA, taking the cumulative filings to 113. In the European market, Cadila received the approval for 15 new product dossiers and launched 2 new products in France and 3 new products in Spain. It launched 7 new products in emerging markets.
For the nine months period ended December 2013, Cadila's consolidated net sales increased by 12.2 per cent to Rs.5,256 crore from Rs.4,686 crore in the similar period of last year. Its net profit went up by 44.2 per cent to Rs.564.40 crore from Rs.391.35 crore. Its interest cost declined to Rs.66 crore from Rs.177.79 crore and its taxation provision, net of alternative minimum tax, declined to Rs.71.25 crore from Rs.177.79 crore.