Financial Daily from THE HINDU group of publications
Tuesday, Jul 27, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 27, 2004 |
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Corporate Results
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Pharmaceuticals Zydus Cadila Q1 net rises 21 pc Our Bureau
Ahmedabad , July 26 THE Zydus group's flagship company, Cadila Healthcare Ltd (CHL), has posted a net profit of Rs 32.8 crore for the first quarter of the current fiscal, up 21 per cent from Rs 27.2 crore during the previous corresponding quarter. The increased profits came even as the company's net sales at Rs 289 crore climbed 14 per cent from Rs 254 crore during the period. "The rise in net profit comes despite the company doubling its investment in R&D at Rs 19 crore. This has been achieved primarily on account of the cost optimisation initiative and the growth programme, which have been instrumental in doubling of sales and tripling of profits over the last three years. Zydus has been able to maintain the momentum during this quarter as well," a CHL spokesperson said. Meanwhile, the consolidated turnover, including its subsidiary companies and joint ventures, stood at Rs 330 crore. The consolidated net profit was at Rs 34.9 crore, up 15 per cent from Rs 30.4 crore. During the period under review, the company's formulation facility at Moraiya and the API facility at Vadodara were approved by the US FDA, setting the platform for a quickened launching of formulations generics and APIs in the US.
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