Cadila Healthcare has received major setback during the third quarter ended December 2016 due to flat sales growth. Its consolidated net profit declined sharply by 34.6 per cent to Rs.282 crore from Rs.431 crore in the similar period of last year. Net sales declined by 0.8 per cent to Rs.2,249 crore from Rs.2,268 crore. With lower profits, EPS declined to Rs.2.75 from Rs.4.21 in the last period.

The poor financial performance impacted share price movements and Cadila scrip declined by Rs.26.45 to Rs.349.15 in the afternoon session. The scrip touched to its peak level at Rs.429.45 on November 1, 2016.

For the first nine months ended December 2016, Cadila's net sales remained at same level at Rs 6,802 crore. Its net profit declined by 28.6 per cent to Rs.975 crore from Rs.1,366 crore in the corresponding period of last year. EPS moved down to Rs.9.53 from Rs.13.34 in the same period of last year.