Companies

Cadila standalone Q3 net falls 35% to ₹140 crore

Our Bureau Ahmedabad | Updated on February 05, 2021

Cadila Healthcare Ltd on Friday reported a standalone net profit of ₹140 crore for the quarter ended December 2020, down 34.6 per cent against ₹214 crore in the previous-year period.

Its standalone revenues from operations stood at ₹1,919 crore (₹1,741 crore).

On a consolidated basis, the company's net profits stood at ₹527 crore (₹374 crore) on revenues from operations of ₹3,796 crore (₹3,638 crore).

Consolidated EBIDTA for the quarter was up 16 per cent at ₹807 crore, it said.

India business

The company’s business in India, which comprises human health formulations, consumer wellness and animal health, posted strong growth during the quarter, with revenues rising 20 per cent YoY to ₹1,643 crore. The three verticals grew 21 per cent, 16 per cent and 17 per cent, respectively.

The US formulations business registered revenues of ₹1,603 crore during the quarter. The company filed 10 additional ANDAs with the USFDA, taking the cumulative number of filings to 410, and received nine new product approvals (including four tentative approvals) from the USFDA, it added.

Covid treatment

In an update on Covid-19 treatment, Cadila said it has received approval to start Phase III clinical trials of Pegylated Interferon Alpha-2b in India, and approval to start Phase III clinical trials of its vaccine ZyCoV-D. The trials for the vaccine are underway and will be tested across 60 locations in 30,000 healthy adult volunteers in India, it added.

Cadila Healthcare shares ended at ₹475.40, down 0.78 per cent, on the BSE on Wednesday.

Published on February 05, 2021

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