Cadila Healthcare rose 2.83% to Rs 1,161 at 15:11 IST on BSE after consolidated net profit rose 23.15% to Rs 240.21 crore on 24.91% increase in total income to Rs 2060.53 crore in Q1 June 2014 over Q1 June 2013.
The result was announced during trading hours today, 30 July 2014.
Meanwhile, the BSE Sensex was up 100.38 points, or 0.39%, to 26,091.61.
On BSE, so far 39,000 shares were traded in the counter, compared with an average volume of 15,996 shares in the past one quarter.
The stock hit a high of Rs 1,195 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,125 so far during the day. The stock hit a 52-week low of Rs 631 on 20 August 2013.
The stock had outperformed the market over the past one month till 28 July 2014, rising 7.21% compared with 3.55% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.93% as against Sensex's 14.84% rise.
More From This Section
The large-cap company has an equity capital of Rs 102.37 crore. Face value per share is Rs 5.
Cadila Healthcare said that sales growth was buoyed by the company's formulations business in US, which grew by 88% in Q1 June 2014. During the quarter, the group filed 26 additional ANDAs (abbreviated new drug applications) with the US Food and Drug Administration and launched 4 new products in the US.
The group posted a growth of 19% with 12 new product launches in the different emerging markets during the quarter. In the domestic formulations market, the company launched 19 new products, including line extensions, of which 6 products were the first to be launched in India.
Making headway in its research programme, the group's orally active, small molecule NCE, ZYDPLA 1 advanced to phase I clinical evaluation in USA. ZYDPLA 1 works by blocking the enzyme Dipeptidyl Peptidase-4 (DPP-4) and aims at an overall improvement in the glucose homoeostasis, including reduction in HbA1c and blood sugar levels. The group also made brisk progress in its biologics research programme advancing its pipeline of mABs. The group also initiated global clinical trials for one of the first generation biosimilars, which is currently being marketed in India, Cadila Healthcare said in a statement.
Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
Powered by Capital Market - Live News