Companies

Zydus Cadila standalone Q1 net stays flat at ₹400 crore

Our Bureau Ahmedabad | Updated on August 12, 2021

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Cadila Healthcare Limited (Zydus Cadila) on Wednesday reported standalone net profit of ₹400 crore for the quarter ended June 30, 2021, compared with ₹398 crore for the same period last year.

Standalone revenues from operations stood at ₹2,123 crore, up from ₹1,796 crore in the corresponding quarter last year.

On a consolidated basis, the company’s net profit stood at ₹587 crore, up 29 per cent from ₹454 crore in the corresponding quarter last year. Total consolidated revenues from operations stood at ₹4,025 crore (₹3,515 crore).

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Earnings before interest, depreciation and tax (EBIDTA) was ₹933 crore, up 18 per cent on year-on-year basis. The EBIDTA margin for the quarter was 23.2 per cent, the company informed.

On the operations front, the company’s India business, including human formulations and consumer wellness, contributed to 50 per cent of the consolidated revenues during the quarter. It witnessed 43 per cent growth on a year-on-year basis, with sales of ₹1,943 crore.

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The US business stood at ₹1,451 crore, while for rest of the world it was ₹277 crore, a statement said.

During the quarter, Zydus initiated clinical trials of its monoclonal antibodies (mAbs) cocktail to neutralise Covid-19 infection. Codenamed ZRC-3308, a cocktail of two SARS-CoV-2 neutralising mAbs, it can emerge as one of the main treatments for mild Covid-19, the company claimed, adding it was the only Indian company to develop this.

On its Covid-19 vaccine, ZyCoV-D, Zydus informed that it has applied to drug regulator DCGI for emergency use authorisation.

Cadila Healthcare shares lost nearly 2 per cent and traded at ₹564.75 on BSE after the result announcement on Wednesday.

Published on August 11, 2021

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