Cadila Healthcare, during the first quarter of the year 2003-04, registered sales of Rs. 194.82 crore, which is up by 16.1 per cent from Rs. 167.81 crore in the corresponding quarter of the previous year. The profit before interest, depreciation and tax (PBIDT) also rose by 42 per cent to Rs. 44.41 crore from Rs. 31.27 crore.

According to the company, it registered a growth in profit in spite of increase in other expenses which went up by 31.9 per cent (Q-Q) on account of expenditure incurred in setting up operations in regulated markets, particularly in the U.S.A. Profit Before Tax (PBT) rose by a whopping 46.5 per cent to Rs. 31.49 crore from Rs. 21.50 crore in the comparative quarter last year. Net profit is also up at Rs. 25.59 crore from Rs. 19.30 crore, registering a growth of 32.6 per cent, despite higher tax provision, which went up by168.2 per cent as compared to the corresponding quarter of the previous year.

During the period, the company’s domestic formulation business registered a 10.8 per cent growth. The revenues have been on the rise with the company’s flagship brands and recent launches faring exceedingly well. ‘Mifegest’ launched in March 2002 registered a growth 62 per cent (y-y). Atorva and Pantodac, which are brand leaders in their respective segments, registered a growth of over 40 per cent. Losacar grew by 35 per cent with Dexona, Amlodac, Penegra and Spasmindon growing by over 20 per cent, over the corresponding period of the previous year. The company’s API business registered growth of 15 per cent to Rs.48 crore from Rs. 41crore. Exports grew by 33 per cent to Rs.35 crore from Rs.26 crore. Consumer division registered sales of Rs.11 crore up from Rs.7.65 crore, a growth of 44 per cent.

During the quarter, the company also launched several new products, which included Siromus (Sirolimus) an immuno-suppressant, Ultipime Injection (Cefipime) an anti-infective and Frisito (Escitalopram) an anti depressant.