Cadila Q3 net soars 106 per cent

Zydus Cadila Healthcare has registered a 106 per cent growth in net profit during the third quarter at Rs 30.6 crore compared with Rs 14.8 crore in the same period last year. Total sales rose 14 per cent to Rs 286 crore (Rs 251 crore).

While domestic sales grew 11 per cent, export soared by 117 per cent. A company statement said profit before tax was up 34 per cent at Rs 34 crore (Rs 25 crore).

For the nine months ended December 31, 2003, sales revenue climbed up by 15.5 per cent to Rs 984 crore, from Rs 774 crore in the corresponding nine months of the year 2002-03.

PBIDY was up 26 per cent to Rs 187 crore (Rs 148 crore) and net profit rose 57 per cent to Rs 97 crore (Rs 62 crore).

Zydus Atlanta, the company's 50 per cent joint venture with Atlanta Pharma, Germany, completed another year.

For the year ended December 31, 2003, the JV reported a 32 per cent increase in sales to Rs 148 crore. The net profit also increased by 58 per cent to Rs 122 crore (Rs 77 crore).

Zydus Cadila has received a total dividend of Rs 30 crore from the JV in the nine months ended December 31, 2003.

During the quarter ended December 31, 2003, the group launched Zydus Pharmaceuticals (USA) Inc, as part of its strategic initiatives to enter the generic formulations market in the United States.

It also launched critical care products - Aggramed (Tirofiban) and Zyrova (Rosuvastatin) in the cardio-vascular segment, Samlodon (S-Amplodepine) an anti-hypertensive. German Remedies, which the company acquired recently, launched Diane 35.