Zydus Cadila Q1 net profit up by 21 per cent

Ahmedabad, Jul 29 (UNI) Pharma major Zydus Cadila has reported a net profit up by 21 per cent to Rs 90 crore from Rs 74 crore for the first quarter ended June 30.

Its total income of also increased to Rs 714 crore, up by 25 per cent, from Rs 572 crore in the corresponding quarter of the previous year on a consolidated basis.

The income growth was mainly driven by 60 per cent growth in formulation exports. Its business operations abroad in countries like US and France posted a sales growth of 36 per cent each.

During the quarter, Zydus Cadila announced two key overseas acquisitions. Making a foray into the fifth largest pharmaceutical market in Europe, the Group acquired Laboratorios Combix in Spain.

It also acquired 70 per cent stake in Simayla Pharmaceuticals of South Africa, which is Africa's largest drug market.

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