Cadila Healthcare net profit leaps to Rs 473.4 crore in Q2
New Delhi: Drug firm Cadila Healthcare on Monday reported an over four-fold jump in its consolidated net profit to Rs 473.4 crore for the quarter ended September. The company had posted a net profit of Rs 107.2 crore for the corresponding period of the previous financial year, Cadila Healthcare said in a BSE filing.
Consolidated total revenue from operations of the company stood at Rs 3,820 crore for the quarter under consideration. It was Rs 3,366.6 crore for the same period a year ago, it added.
The company has significantly reduced its net debt-by Rs 2,709 crore in the first six months of FY21, which is 40 percent reduction from net debt reported in March 2020. The net debt as on September 30, 2020, stood at Rs 4,031 crore against Rs 6,740 crore as on March 31, 2020, the filing said.
Making progress with its research initiatives to fight COVID 19, the company will be completing the pre-clinical development on ZYIL 1, a small molecule NCE positioned for management of critically ill COVID 19 patients, it added.
"The Adaptive Phase I/II clinical trials are underway for the company's lead vaccine candidate ZyCoV-D," the filing said.
The plasmid DNA platform on which company's vaccine is based also provides ease of manufacturing with minimal bio-safety requirements. The platform is also known to show much-improved vaccine stability and lower cold chain requirements making it easy for transportation to the remotest regions of the country, it added.
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