Zydus Cadila net profit rises 41 percent to Rs 527 crore in Q3
Ahmedabad: Pharmaceutical major Zydus Cadila said on Friday its profit after tax was up by 41 per cent to Rs 527 crore in Q3 FY21 as compared to the corresponding quarter of previous year.
Consolidated revenues moved up by 4 per cent to Rs 3,796 crore consolidated net sales by 6 per cent to Rs 3,754 crore. Earnings before interest, depreciation and tax (EBIDTA) were up by 16 per cent to Rs 807 crore.
The company's business in India, which comprises human health formulations business, consumer wellness business and animal health business posted 20 per cent growth in the quarter ended December 2020 with revenues of Rs 1,643 crore.
Human health formulations business in India grew by 21 per cent, consumer wellness business by 16 per cent and animal health business by 17 per cent.
US formulations business registered revenues of Rs 1,603 crore during the quarter. The company filed 10 additional abbreviated new drug applications (ANDAs) with the US Food and Drug Administration, taking the cumulative number of filings to 410, and received nine new product approvals (including four tentative approvals).
During the quarter, the company launched the oral anti-diabetic agent Dapaglyn (Dapagliflozin) in India for patients suffering from chronic obstructive pulmonary disorder.
Zydus Cadila launched Forglyn, India's first pressurised metered dose inhaler with a combination of long acting muscarinic antagonist and long acting beta agonist.
Continuing its fight against Covid-19, the company received approvals to start phase three clinical trials of pegylated interferon alpha-2b in India and the approval to start phase three clinical trials of its vaccine ZyCoV-D.
The trials for the vaccine are underway and will be tested across 60 locations in 30,000 healthy adult volunteers in India, it said.
