On a consolidated basis, Cadila Healthcare's net profit surged 49.53% to Rs 454 crore on 4.20% rise in revenue from operations to Rs 3,549.30 crore in Q1 June 2020 over Q1 June 2019.
Profit before tax (PBT) soared 50.64% to Rs 593.40 crore in Q1 June 2020 as against Rs 393.90 crore in Q1 June 2019. Current tax expense for the quarter jumped 106.39% at Rs 106.50 crore as against Rs 51.60 crore in Q1 June 2019. The result was declared during trading hours today, 5 August 2020.
EBIDTA for the quarter stood at Rs 815 crore. EBIDTA margin was at 22.4%, registering an improvement of 360 basis points over the corresponding quarter of the previous financial year.
The company's India business which comprises human formulations, consumer wellness and animal health business posted sales amounting to Rs 1,486 crore during the quarter. After a quiet start to the quarter, businesses across India geography have shown gradual improvement on a month-on-month (M-o-M) basis during the quarter.
The US business posted sales aggregating to Rs 1,623 crore, recording a 19% jump on a Y-o-Y (year-on-year) basis. The company received 12 ANDA approvals (including 4 tentative approvals) during the quarter. The company's rest of the world business grew by 8% during the quarter on a Y-o-Y basis and posted sales of Rs 238 crore.
Continuing with its efforts to look at new therapeutic options to manage and treat the COVID-19, Zydus received approvals from COFEPRIS of Mexico for clinical trials of Pegylated Interferon Alpha 2b in COVID 19 patients. At present, clinical trials in India and Mexico are underway with Pegylated Interferon alpha-2b. The pharmaceutical major also received an approval to conduct clinical trials with Desidustat, its Investigational New Drug, for the management of COVID 19 patients in Mexico from COFEPRIS. The firm announced the commencement of the Adaptive Phase I/II clinical trials of ZYCoV-D, the preventive vaccine for COVID 19 in India.
Meanwhile, in a separate announced on Wednesday, the company announced that its plasmid DNA vaccine to prevent COVID-19, ZyCoV-D was found to be safe and well tolerated in the Phase-I clinical trial. The company will now commence Phase II clinical trials from the 6 August 2020.
Shares of Cadila Healthcare slipped 1.50% to Rs 396.80 on BSE. Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
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