Ahmedabad-based Zydus Cadila has posted a net profit of Rs 804 crore for the year ended March 31, 2014 on gross sales of Rs 7,208 crore. Net profit for the year increased by 23 per cent against Rs 654 crore in the previous year.
On a quarterly basis, for the fourth quarter ended March 31, 2014, the company registered gross sales of Rs 1,952 crores, up by 22 per cent from Rs 1,599 crore in the corresponding period last year, on a consolidated basis.
Net profit for the same period stood at Rs 239 crore. The board of directors of the company has proposed a dividend of 180 per cent.
“The topline growth was mainly driven by 30 per cent growth in formulation exports, which was buoyed by 44 per cent growth in sales in the US market and 17 per cent growth in the emerging markets,” the company statement said.
“In the US, the group which is ranked among the 8th largest generic companies, launched 7 new products. The group also launched operations in Mexico with the launch of 7 products during the year,” the statement added.
Strengthening its regulatory pipeline, the group filed a record 50 ANDAs during the year with the US FDA, taking the cumulative filings to 227. The group received 15 ANDA approvals during the year taking the total to 91 product approvals, it said.