Cadila Healtchare has dipped 5% to Rs 707 on reporting a modest 1.33% year-on-year (yoy) growth in net profit at Rs 204 crore for the quarter ended June 30, 2013 (Q1), due to higher expenditure. The pharmaceutical company had reported net profit of Rs 201 crore in the same quarter a year ago.
The company’s net sales during the quarter under review grew by 6% at Rs 1,607 crore, against Rs. 1,516.1 crore in the corresponding period last year, Cadila Healthcare said in a BSE filing
.Analyst on an average had expected net profit of Rs 209 crore on net sales of Rs 1,755 crore for the quarter.
Total expenditure for the quarter increased by 9% at Rs 1,398 crore compared with Rs 1,280 crore in the same quarter last year.
The stock opened at Rs 735 and hit a low of Rs 694, its lowest level since March 2012, on BSE. A combined 198,662 shares changed hands on the counter till 1413 hours on BSE and NSE.
The company’s net sales during the quarter under review grew by 6% at Rs 1,607 crore, against Rs. 1,516.1 crore in the corresponding period last year, Cadila Healthcare said in a BSE filing
.Analyst on an average had expected net profit of Rs 209 crore on net sales of Rs 1,755 crore for the quarter.
Total expenditure for the quarter increased by 9% at Rs 1,398 crore compared with Rs 1,280 crore in the same quarter last year.
The stock opened at Rs 735 and hit a low of Rs 694, its lowest level since March 2012, on BSE. A combined 198,662 shares changed hands on the counter till 1413 hours on BSE and NSE.