Cadila Healthcare, a Rs.5,000 crore plus pharma major from Ahmedabad, has received setback during the third quarter ended December 2012 due to significant higher taxation amount. Its net profit declined sharply by 31 per cent to Rs.102.91 crore from Rs.149.21 crore in the corresponding period of last year. The tax provision went up to Rs.63.03 crore from Rs.17.36 crore. Its EBDITA also declined by 2.8 per cent to Rs.272.06 crore from Rs.279.81 crore. The company's consolidated net sales increased by 15.4 per cent to Rs.1,561 crore from Rs.1,352 crore.. With lower net profits, earnings per share declined to Rs.5.03 from Rs.7.29 in the last period.

With poor performance during the quarter, Cadila scrip moved down by over Rs.24 today to Rs.791 from previous day's close of Rs.816 on the BSE.

The company's consolidated net profit for the first nine months ended December 2012 declined by 18.5 per cent to Rs.392.84 crore from Rs.481.71 crore in the similar period of last year. Its net sales, however, moved up by 22.5 per cent to Rs.4,590 crore from Rs.3,746 crore. Its tax provision went up to Rs.177.79 crore from Rs.69.41 crore which put pressure on bottom line. Employees cost increased by 22. 8 per cent to Rs.690 crore from Rs.562 crore. Finance cost remained almost same at Rs.146 crore.