Cadila Health shares drop over 6% post Q3 results
Mumbai: Shares of drug firm Cadila Healthcare on Monday tanked by more than 6 percent after the company reported 31 percent dip in consolidated net profit for its third quarter ended December 31.
After falling nearly 9 percent in intra-day trade, the company scrip finally closed at Rs 740.45, down 6.43 percent on the BSE.
At NSE, the stock closed 6.36 percent lower at Rs 740.
Cadila Healthcare had on Friday reported 31.03 percent dip in consolidated net profit to Rs 102.91 crore for the October-December quarter this fiscal, mainly on account of increase in cost of materials consumed.
The group had posted net profit of Rs 149.21 crore after taxes, minority interest and share of profits/loss of the associates, in the same quarter of last fiscal.
The company's consolidated net sales rose however to Rs 1,594.20 crore in Q3, FY'13, from Rs 1,373.64 crore in the year-ago period.