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This is an archive article published on August 6, 2012

Cadila Q1 net profit dips 15% at Rs 195 cr

The company had posted a net profit of Rs 229.82 crore during the same period of previous fiscal.

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Drug firm Cadila Healthcare today posted 15.24 per cent decline in its consolidated net profit at Rs 194.79 crore for the quarter ended June 30,2012,primarily due to foreign exchange loss.

The company had posted a net profit of Rs 229.82 crore during the same period of previous fiscal,Cadila Healthcare said in a filing to the BSE. Net sales of the company,however,rose to Rs 1,516.10 crore for the first quarter ended June 30,as compared to Rs 1,173.51 crore during the same period of 2011-12 fiscal.

The company suffered a loss of Rs 11.55 crore on a consolidated basis due to foreign exchange fluctuation during the quarter.

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The company had a gain of Rs 15.52 crore during the same period of previous financial year.

During the quarter under review,the company said its revenues were driven by 50 per cent year-on-year growth in the US business and a 37 growth growth in Brazil. The company said with the recent approval from the US

Food and Drug Administration for its facility at Moraiya,the company expects to start getting new product approvals,which will further strengthen its US business.

In the domestic formulations market,the company posted sales of Rs 582 crore,up 27 per cent,as compared to same period of previous fiscal.

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Shares of Cadila Healthcare were trading at Rs 905.10 on the BSE in late afternoon trade,up 0.91 per cent from its previous close.

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