Cadila Health Q2 net falls 7% to Rs 95 cr, misses forecast

Pharmaceutical firm Cadila Healthcare  's second quarter net profit fell short of market expectations due to forex loss. Consolidated net profit dropped 7.4 percent to Rs 95 crore in the July-September quarter from Rs 102.6 crore in a year ago period.

Consolidated foreign exchange loss was Rs 75.6 crore for the quarter.

Consolidated net sales grew lower than expected 24 percent to Rs 1,512.5 crore from Rs 1,219.6 crore during the same period.

Analysts on an average had expected net profit of Rs 200 crore on net sales of Rs 1,556 crore for the three months period ended September 2012.

At 14:15 hours IST, the stock lost 3.32 percent to Rs 857.25 amid heavy volumes on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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DENIP Consultants Pvt Ltd