Zydus Cadila, Ahmedabad-based pharma major, registered 41% growth in its net profit for the year 2010-11. The growth of the Pankaj Patel-promoted Zydus Cadila, listed as Cadila Healthcare on stock bourses, was driven by growth in formulation exports, in its India formulations business and consumer business.
Zydus Cadila, Ahmedabad-based pharma major, registered 41% growth in its net profit for the year 2010-11. The growth of the Pankaj Patel-promoted Zydus Cadila, listed as Cadila Healthcare on stock bourses, was driven by growth in formulation exports, in its India formulations business and consumer business.
The group registered a total income from operations of Rs4,630 crore ($1.03 billion) in financial year 2010-11, up by 26% from Rs3,687 crore ($826 million) in the corresponding period last year on a consolidated basis.
For the first time, turnover of the company has touched $1 billion, making it the first Gujarat-based pharma company to touch the mark. The net profit for the same period was up by 41% (year to year) to Rs711 crore.
With the group celebrating the achievement of crossing the billion dollar mark in its revenues, the board of directors proposed a dividend of 125%, a 25% rise from the 100% dividend declared last year.
The company in an official statement said that the robust top-line growth was driven by 37% growth in formulation exports, 19% growth in India formulations business, 25% growth in its consumer business and 18% growth in API exports.
The group's formulation exports were buoyed by 44% growth in sales in the US market and 24% growth in emerging markets. The India formulations business of the company was marked by a launch of more than 60 new products including line extensions. Buoyed by fast growth, Zydus Cadila has now set its sights even higher.
With the help of its formulation business, the company wants to raise its turnover from the present $1 billion (Rs4,600 crore) to $3 billion (Rs13,500 crore) by 2015.
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