Cadila Health Q3 profit falls 31% to Rs 103cr on higher tax

Cadila Healthcare's consolidated net profit fell more than 31 percent year-on-year to Rs 103 crore in the third quarter of financial year 2012-13, impacted by higher tax and other expenses.

Consolidated total income rose by 16 percent to Rs 1,604 crore from Rs 1,383 crore during the same period.

Bottomline was quite dismal while topline came in in-line with expectations. Analysts on an average were expecting net profit at Rs 195 crore on total income of Rs 1,593 crore for the quarter.

Tax expenses jumped 3.6 times YoY to Rs 63.03 crore in October-December quarter.

Cost of material consumed increased 60 percent YoY to Rs 398.45 crore and other expenses rose by 24 percent YoY to Rs 579.25 crore for the quarter.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) declined marginally to Rs 255 crore from Rs 262 crore YoY.

Operating profit margin dropped 300 basis points year-on-year to 15.9 percent while analysts had expected it at 20 percent.

At 14:42 hours IST, shares declined 1.2 percent to Rs 806.30 amid hefty volumes on Bombay Stock Exchange.

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