Zydus Cadila profit up 41% to Rs 391 crore

Operating revenue grew 17% to Rs 2460 crore and sales in US market grew 25% to Rs 1004 crore

Drug maker Zydus Cadila posted a 41 per cent growth in consolidated net profit at Rs 391 crore for the quarter ended September 30, compared to a net profit of Rs 278 crore in the same period last year. Operating revenue grew 17 per cent to Rs 2,460 crore, and sales in the US market grew 25 per cent to Rs 1,004 crore.

Net profit was higher than Street estimates, as analysts were expecting 31 per cent profit growth. Revenue came in line with estimates. The US market contributes 40 per cent to company’s revenues, and growth in the US has nearly doubled in the past five years.

The firm received approval for a new product from the US Food and Drug Administration and two new products were launched in the US market, Zydus Cadila said.

The group had filed 38 abbreviated new drug applications (ANDA) with the USFDA in the previous financial year, taking the cumulative filings to 260. It received eight ANDA approvals during 2014-15, taking the total to 99 product approvals.

The company launched 13 new products in the domestic market and two new products in Mexico during the quarter, the company said.