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Ahmedabad, July 29

Zydus Cadila reported a net profit of Rs 90 crore (Rs 74 crore), up 21 per cent for the first quarter ended June 2008. Driven by a 60 per cent growth in formulation exports, the consolidated income rose to 714 crore (Rs 572 crore), up 25 per cent. Sales in the US and France grew by 36 per cent, while the consumer business grew by 26 per cent. During the quarter, the company acquired Laboratories Combix, Spain and a 70 per cent stake in Simayla Pharmaceuticals, South Africa , which are expected to strengthen the group’s global operations. The company operates as Cadila Healthcare Ltd under the Zydus Group. The company’s scrip closed on the BSE at Rs 301.05 on Tuesday, up 1.28 per cent.

– Our Bureau

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