Cadila Healthcare Ltd., an innovative global pharmaceutical company, reported a lower consolidated net profit for the fourth quarter on forex loss. On a stand-alone basis, the company reported higher net profit for quarter.
Consolidated Results
The Ahmedabad-based company's fourth-quarter consolidated net profit fell by five percent to Rs.170.88 crore or Rs.8.35 per share from the Rs.178.97 crore or Rs.8.74 per share in the corresponding quarter last year.
The results for the quarter included loss due to foreign exchange fluctuations of Rs.90.00 crore, compared to a gain of Rs.31.22 crore in the corresponding quarter of the the preceding year. Excluding forex fluctuations, net profit for the quarter under review was up by 16 percent to Rs.178 crore, the company said. Quarterly net sales increased by 15 percent to Rs.1,344.36 crore from the Rs.1,168.71 crore, while 'other operating income' was Rs.53.64 crore, compared with the Rs.44.60 crore in the corresponding quarter of the preceding year.
During the quarter, the group's India formulations business posted sales of Rs.499 crore, up by 38 percent from last year. The group launched 40 new products, which included 16 line extensions. Of these, 10 were first in India launches., whereas group's wellness business increased by 11 percent to Rs.86 crore year-on-year and the animal healthcare business in India grew by 30 percent to Rs.43 crore.
The group's formulation exports was buoyed by 26 percent growth in sales in the US market.
For the full year, Cadila's consolidated net profit was Rs.652.59 crore, lower by eight percent than the Rs.711.00 crore in the preceding year. Its fiscal-year net sales and other operating income' rose by 14 percent to Rs.5,263.31 crore from the Rs.4,630.59 crore last year.
Stand-alone Results
On a stand-alone basis, the company's net profit for the fourth-quarter increased by 55 percent to Rs.139.40 crore from Rs.89.76 crore in the previous-year quarter. Net sales and other operating income stood at Rs.783.78 crore, compared with Rs.695.55 crore in the corresponding quarter last year, an increase of 13 percent.
The stand-alone results for the quarter included loss due to foreign exchange fluctuations of Rs.94.90 crore, compared to a gain of Rs.22.30 crore in the corresponding quarter of the the preceding year.
For the fiscal year, Cadila Healthcare's stand-alone net profit, was Rs.657.52 crore, higher by eight percent to the Rs.610.38 crore in the preceding year. Net sales and other operating income rose by eight percent to Rs.3,150.78 crore from the Rs.2,920.28 crore a year ago.
The company's Board has recommended a dividend of 15 percent or Rs.7.50 per equity share of Rs.5 each for the fiscal year 2012, to be paid on August 11.
At the BSE, Cadila Healthcare shares are currently trading at Rs.758.00, up 3.24 percent from the previous close.
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