Cadila Healthcare has rallied over 7% to Rs 916 in late noon deals on BSE after reporting a better than expected 82% year on year growth in consolidated net profit at Rs 186 crore for the third quarter ended December 31, 2013 (Q3FY14). The pharmaceutical company had profit of Rs 102 crore in the year-ago period.
Consolidated net sales of the company grew 17% yoy to Rs 1,872 crore for the quarter mainly on account of higher exports to the US. The company’s business in the US registered a growth of 61% while its sales in emerging markets including India grew at least 30% in the quarter, Cadila Healthcare said in a statement.
Analyst on an average had expected net sales of Rs 1,789 crore and profit of Rs 153 crore for the quarter.
Meanwhile, EBIDTA or operating profit margin remains flat at around 16% yoy, during the recently concluded quarter.
During the quarter, company filed 31 ANDAs with the USFDA, taking the cumulative filings to 49 ANDAs for the first nine months ended December 2013, it added.
The stock opened at Rs 862 and touched a low of Rs 855 before the announcement of results on the BSE. A combined 1.7 million shares changed hands on the counter on the BSE and NSE at 1500 hours.
Consolidated net sales of the company grew 17% yoy to Rs 1,872 crore for the quarter mainly on account of higher exports to the US. The company’s business in the US registered a growth of 61% while its sales in emerging markets including India grew at least 30% in the quarter, Cadila Healthcare said in a statement.
Analyst on an average had expected net sales of Rs 1,789 crore and profit of Rs 153 crore for the quarter.
Meanwhile, EBIDTA or operating profit margin remains flat at around 16% yoy, during the recently concluded quarter.
During the quarter, company filed 31 ANDAs with the USFDA, taking the cumulative filings to 49 ANDAs for the first nine months ended December 2013, it added.
The stock opened at Rs 862 and touched a low of Rs 855 before the announcement of results on the BSE. A combined 1.7 million shares changed hands on the counter on the BSE and NSE at 1500 hours.