Cadila Healthcare released its April-June quarterly results for fiscal year 2021-22, showing a net profit of Rs 587.2 crore on a consolidated basis, compared to Rs 454 crore in the corresponding quarter last year, a growth of 29 percent year-on-year. year. The increase in net profit was mainly due to robust sales in the domestic market, along with sales of COVID-19 drugs.
The pharmaceutical company’s total revenue from operations in the first quarter of the current fiscal year was Rs 4,025.4 crore, compared to Rs 3,514.6 crore in the same period a year ago.
The Gujarat-based multinational is mainly involved in the production of generic drugs. The company – also known as Zydus Cadila – is the only Indian company to have developed a neutralizing monoclonal antibody cocktail for the treatment of COVID-19, according to a regulatory filing by the company with the exchanges.
Cadila Healthcare has applied to the Drugs Controller General of India (DCGI) for an emergency use authorization for ZyCoVD – the world’s first plasmid DNA vaccine for human use after conducting the largest vaccine trial to date in the country.
Cadila Healthcare’s business in India, which consists of human formulations and consumer wellness businesses, contributed 50 percent to consolidated sales in the April-June quarter. According to the statement, it registered a growth of 43 percent year-over-year, with revenue of Rs 1,943 crore during the assessed quarter.
The company’s earnings before interest, depreciation and tax (EBIDTA) for the June quarter increased 18 percent year-on-year to Rs 933 crore. The EBIDTA margin was 23.2 percent – an improvement of 140 basis points on a sequential or quarter-over-quarter (QoQ) basis.
On Wednesday, August 11, shares of Cadila Healthcare were down 2.54 percent at Rs 563.65 apiece on the BSE.