February 7, 2012 4:14:26 pm
Cadila Healthcare today posted 7.9 per cent decline in net profit at Rs 149.21 crore for the third quarter ended December,2011 due to foreign exchange losses.
The company had posted a net profit of Rs 162.01 crore in the October-December period of previous fiscal.
However,net sales of the company rose to Rs 1,352.46 crore during the quarter,as against Rs 1,134.55 crore in the same period previous fiscal,Cadila Healthcare said in a filing to the BSE.
The company had a loss of Rs 34.17 crore on the account of foreign exchange fluctuation during the quarter,it said.
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During the quarter,the group’s India formulations business grew by 18 per cent over the same period previous fiscal.
Riding high on the increased sales of its own products and that of the recently acquired Nesher,the group’s subsidiary in the US posted a growth of 45 per cent. The group also posted a growth of 44 per cent in sales in Japan.
On a standalone basis,the company posted a net profit of Rs 134.21 crore for the third quarter,compared to Rs 140.38 crore in the same period previous fiscal.
Shares of Cadila Healthcare today closed at Rs 659.85 on the BSE,down 2.16 per cent from previous close.
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