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Cadila Healthcare on Friday reported 8.7 per cent decline in consolidated net profit to Rs 239 crore for the quarter ended March 31 due to higher tax expense. The company had reported net profit of Rs 262 crore in the January-March quarter of 2012-13.
Net sales in the quarter were up 22 per cent to Rs 1,916 crore against Rs 1,565.5 crore a year ago, the company said in a BSE filing.
The company recorded tax expense of Rs 34.76 crore against a tax credit of Rs 59 crore a year ago. Overall expenses were Rs 1,662.7 crore, up 21 per cent versus Rs 1,372.81 crore in the same quarter last year. Cadila Healthcare scrips were trading at Rs 911 apiece in the afternoon trade, down 3.11 per cent from its previous close on the BSE.
