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Cadila Healthcare net increases 34 pc in Q1

MUMBAI: Cadila Healthcare Ltd has registered a 34 per cent rise in net profit at Rs 19.17 crore in the first quarter ended June 30, 2001 as against Rs 14.32 crore in the corresponding period last year. Net sales has gone up to Rs 143.74 crore as compared to Rs 132.80 crore in the year ago period. Other income was at Rs 42.79 lakh. Total income has gone up to Rs 144.17 crore (Rs 133.30 crore).

Total expenditure has increased to Rs 120.64 crore (Rs 112.21 crore). Interest and financial charges were at Rs 1.81 crore (Rs 1.06 crore). Depreciation and amortisation amounted to Rs 3.83 crore (Rs 3.94 crore). Provision for taxation has dropped to Rs 1.70 crore (Rs 1.75 crore).

Earnings per share for the quarter was at Rs 3.21 (Rs 2.39). Mr S.J. Maniar, Vice-President-finance, Zydus Cadila, said that the company aims to garner 20 per cent growth during the year in topline despite a slow down in the domestic pharmaceutical indus try.

Zydus Cadila through its wholly-owned subsidiary company Recon Healthcare Ltd acquired 27.72 per cent shareholding in German remedies Ltd and has made open offer to the shareholders to acquire upto 20 per cent shareholding pursuant to SEBI (SAST) Regulat ion. The company has invested Rs 53.25 crore in its wholly owned subsidiary, Zydus International Ltd, Ireland which has acquired five trademarks for International use. The five trademarks were acquired by Zydus through a separate deal with Asta Medica wh ich will now be sold by Zydus International.