Cadila Healthcare surges post Q1 results, stock split plan

Shares of Cadila Healthcare has surged 6% to Rs 2,034 on the BSE after the company reported a strong 47% year-on-year (YoY) growth in consolidated net profit at Rs 353 crore for the quarter ended June 30, 2015 (Q1). The pharmaceutical company had profit of Rs 240 crore in a year ago quarter.

Total operating income grew 22% at Rs 2,500 crore on YoY on basis.

The company said its formulations business in the US grew by 37%. During the quarter, the group filed 6 additional Abbreviated New Drug Application (ANDs) with the US Food and Drug Administration (USFDA) and launched one new product in the US.

Meanwhile, the board of directors of the company approved the sub-division (split) of one equity share of the company having a face value of Rs 5 into five equity shares of face of Re 1 each.

At 03:04 PM, the stock was up 4% at Rs 1,997 on the BSE. The trading volumes on the counter jumped more than five-fold with a combined 530,637 shares changed hands on the BSE and NSE so far.

 


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