Drug firm Cadila Healthcare today said net profit of Zydus Cadila rose by 24.94 per cent to Rs 162.01 crore for the third quarter ended December 31, 2010, over the same period previous fiscal.
The company had reported a net profit of Rs 129.67 crore for the same quarter last fiscal, Cadila Healthcare said in a filing to the Bombay Stock Exchange (BSE).
The company's net sales rose to Rs 1,134.55 crore for the third quarter ended December 31, compared to Rs 965.43 crore in the corresponding period a year ago.
"The income growth was mainly driven by a 20 per cent growth in the formulations exports and domestic formulations business registering a seventeen per cent y-o-y growth," Cadila Healthcare said.
"The company's consumer wellness business was up 21 per cent," it added.
During the quarter the company launched nine new products in the domestic formulations market, which includes line extensions and 'Osigard 100'.
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The company said its US sales grew by 33 per cent on year-on-year basis and it launched four new products in the American market.
The company's formulation business also grew by 33 per cent in Brazil. In Japan sales grew by 22 per cent and during the quarter Rabeprazole and Glimeperide were launched in Japan, Cadila said.
The company filed three abbreviated new drug approvals during the quarter taking the total to 118 filings. The group filed four dossiers for three new products in the European market, it added.
The group has also received 15 new product approvals from the Spanish market this quarter.
Shares of Cadila Healthcare were today trading at Rs 762 on BSE in the late afternoon trade, down 1.66 per cent from its previous close.