Cadila Healthcare shares gain over 5% after strong Q3 performance on all parameters

Cadila Healthcare share price gained 5.5 percent intraday Thursday after showing strong performance on all fronts for October-December quarter.

Consolidated profit grew by 67.7 percent year-on-year to Rs 543.3 crore despite significant rise in tax cost.

Consolidated revenue from operations surged 41 percent to Rs 3,259.6 crore in Q3 while operating income during the quarter spiked 99.9 percent to Rs 841.2 crore and margin expanded by 770 basis points to 25.8 percent compared to year-ago.

The company during the quarter received approval for 24 new products for the US market and filed 10 additional abbreviated new drug applications (ANDAs) with the USFDA. It launched 2 new products in the US in Q3 while in India, it launched 12 new products.

At 12:23 hours IST, the stock price was quoting at Rs 413.00, up Rs 16.70, or 4.21 percent on the BSE.moneycontrol