NE NEWS SERVICE
NEW DELHI, NOV 2
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 a 40 percent reduction from net debt reported in March 2020. The net debt as of September 30, 2020, stood at Rs 4,031 crore against Rs 6,740 crore as of 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.
The stock of Cadila Healthcare closed at Rs 410.15 per scrip on BSE, down 1.81 percent from its previous close
Zydus Wellness Q2 net loss widens to Rs 105.34 cr
Zydus Wellness on Monday reported a widening of its consolidated net loss to Rs 105.34 crore for the quarter ended on September 30, 2020, from that of Rs 12.02 crore in the year-ago period. Total income stood at Rs 344.80 crore for the reported quarter, up 4.49 percent compared to Rs 329.98 crore for the same period a year ago, Zydus Wellness said in a BSE filing.
During the quarter under review, Zydus Wellness reported exceptional expenses of Rs 97.95 crore against Rs 10.05 crore in the same period a year ago.
“In the process of integration and concluding the merger of the acquired entity, the company incurred various expenses towards transition service agreement (TSA), consultancy fees, stamp duties, legal and professional charges and other incidental charges.
“The company would not have incurred these expenses in the normal course of business and hence these expenses are classified as exceptional items for the quarter and six months ended September 30, 2019, and year ended March 31, 2020,” the company said.
Zydus Wellness said the secured non-convertible debentures (NCDs) that were previously issued by the company have been purchased by its subsidiary company from the market aggregating to Rs 1,10,500 lakh during the quarter ending September 30, 2020 and are held by the subsidiary company as of September 30, 2020.
Exceptional expenses also includes the premium amount paid towards purchase of the non-convertible debentures by its subsidiary company. Zydus Wellness said during the quarter gone by, its key brands namely, Sugar Free, Everyuth Scrub and Everyuth Peel Off, Glucon D and Nycil continued to hold strong positions in their respective categories. The company continued to grow the categories and increase market share of its brands with new offerings and expanding its reach through e-commerce channels and building brand advocacy, during the quarter, it added.
