For the third quarter ended 31st December 2006, Zydus Cadila's net profit surged by 66.4% to Rs. 65.9 crore, up from Rs. 39.6 crore in the same period last year on a consolidated basis. Total income for the same period was up by 28.7% at Rs.492 crore. PBIDT was up by 31.2% to Rs.101.9 crore during the quarter from Rs.77.7 crore in the corresponding period last year. The income growth was mainly driven by a growth of 105.2% in formulation exports. The company's API exports were up by 45%.
During the quarter, the company's subsidiaries in France and US registered a strong performance. Zydus France SAS, which currently markets 85 generic presentations registered 188.3% growth in sales for the quarter. In US, the company posted sales of Rs. 38.6 crores during the quarter. The group filed three more ANDAs this quarter taking the total to 44 ANDAs. During the quarter, the group received approvals for Zonisamide Capsules and Simvastatin Tablets taking the cumulative to 18 approvals, of which eight products have been launched so far.
On the research front, the group filed its fourth IND (Investigational New Drug) application for its New Molecular Entity (NME) - ZYO1 for the treatment of obesity with the Drug Controller General of India (DCGI).
Besides this, the company signed three new contracts for contract manufacturing with international companies during the quarter. The company now has a total of 20 contracts with peak revenue potential of US $27.5 mn.
