Moneycontrol
Aug 11, 2017 12:11 PM IST | Source: Moneycontrol.com

Cadila Healthcare profits drop 65% to Rs 138.4 crore in Q1

Cadila Healthcare, part of Zydus Cadila group on Friday posted 65 percent decline in net profit in the first quarter ended June as pricing pressure in US and destocking of trade due GST roll out impacted its bottomline. The drug maker reported Rs 138.4 crore in Q1FY18 against Rs.398.4 crore in the corresponding quarter previous year. The total income dropped 4.20 percent to 2249.8 crore in the first quarter.

Cadila Healthcare profits drop 65% to Rs 138.4 crore in Q1

Moneycontrol News

Cadila Healthcare, part of Zydus Cadila group on Friday, posted 65 percent decline in net profit in the first quarter ended June as pricing pressure in US and destocking of trade due to GST roll-out impacted its bottomline.
The Ahmedabad-based drug maker reported Rs 138.4 crore in Q1FY18 against Rs 398.4 crore in the corresponding quarter previous year. The total income dropped 4.20 percent to Rs 2249.8 crore in the first quarter.

The results were well below analyst estimates.

A CNBC-TV18 poll of analysts estimated the net profit to be Rs 340 crore and revenues at Rs 2333 crore.

The EBITDA margins stood at 12.6 percent against analyst estimate of 19.4 percent.

Shares of Cadila Healthcare declined 0.69 percent and were trading at Rs 460.85 on BSE at 11.44 am, the benchmark Sensex dropped 0.68 percent to 31,317.06 points.
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