Cadila Healthcare Q3 net rises 38% on robust US sales; shares up nearly 5%
At 1504 hours, the shares of Cadila Healthcare were trading up 4.55% or Rs 14.20 at Rs 326.20 per scrip intraday on the BSE.
Cadila Healthcare on Friday posted 38% rise in consolidated net profit at Rs 390 crore for the third quarter (Q3) ended December 31, 2015, on the back of robust sales in the US market. The company had posted a net profit of Rs 282 in the same period of previous fiscal.
At 1504 hours, the shares of Cadila Healthcare were trading up 4.55% or Rs 14.20 at Rs 326.20 per scrip intraday on the BSE.
Total income of the company rose to Rs 2,428 crore for the third quarter compared with Rs 2,205 crore in the corresponding quarter of the previous year on a consolidated basis, Cadila Healthcare said in a statement.
During the quarter, the company's business in the US posted sales of Rs 1,072 crore registering a growth of 20% over the same period of previous year.
The company had filed 20 abbreviated new drug applications (ANDAs) with the US Food and Drug Administration (USFDA) during the quarter. The company said it launched 12 new products, including line extensions, in the domestic market.
In Brazil, the company had received the regulatory approval for two products during the quarter.