Zydus Cadila's net profit up by whopping 53% in FY 07

Kolkata, Apr 26 (UNI) Zydus Cadila, a leading pharma company, registered a growth in net profit by 53 per cent at Rs 234 crores and total operating income of Rs.1,829 crores in 2006-07.

A company release said there was a 23 per cent increase in total operating income from Rs 1,485 crores in the corresponding period last year on a consolidated basis.

It said the company had achieved a strong all round performance in all spheres of business as the group's formulations exports (US, France), API and consumer business touched new peaks.

The top line growth of the company was driven by 91 per cent growth in formulation exports, robust 31 per cent growth in API exports and 54 per cent growth in consumer business.

The growth in exports was buoyed by 186 per cent growth in sales in the US markets, 103 per cent growth in the French market and 26 per cent growth in exports to other emerging markets.

The newly acquired Carnation Nutra Analogue Foods Ltd also recorded sales of Rs.43 crores, while the existing consumer business grew by a healthy 23 per cent, with Sugar Free, India's No 1 sweetener, crossing Rs 50 crores in sales.

During this fiscal, Zydus Cadila made a foray in Japan, setting up Zydus Pharma Inc. The company recently acquired 100 per cent stake in Nippon Universal Pharmaceutical Ltd., a company with a ready manufacturing, marketing and distribution base, which will enable it to jumpstart its business.

The year 2006-07 also saw the company making a foray in the Rs 1500 crore Derma market with the acquisition of Liva Healthcare, a Mumbai-based company with a strong focus on the derma segment. The company launched 39 new products during the year in the domestic pharma market of which eight were for the first time in India.

The Board of Directors have recommended a dividend of 80 per cent (Rs 4 per share of Rs 5 each) subject to approval by the shareholders at the Annual General Meeting.

UNI