Cadila Healthcare’s profit after tax (PAT) was recorded at Rs 500 crore, the company said on Thursday, beating Street estimates of Rs 494.3 crore. The company’s profit was down 5 percent year-on-year (Y-o-Y) and 83 percent on a quarter-on-quarter (Q-o-Q) basis, it said in an exchange filing.

The revenue from operations was recorded at Rs 3,655 crore, up 0.6 percent Y-o-Y from Rs 3,633 crore in the corresponding quarter last year. A CNBC-TV18 poll of analysts had expected the revenue to stand at Rs 3,775.5 crore.

Commenting on segment-wise growth, the pharmaceutical firm said, its consumer wellness business experienced lower growth in sales during the quarter due to high base during the previous year comparable period, which was accentuated by a slowdown in rural growth, and implementation of a continuous replenishment process as part of the IBP tool. “This has resulted in lower inventory level and better availability of fresh stocks with the consumers,” it said.

“To counter commodity inflation, the price hike taken in key brands towards the end of Q2 FY22 helped in protecting the gross margins during the quarter,” the company said in the release.

The company said its human health formulations business gained market share in core therapies of anti-diabetic, cardiovascular, gynecology and anti-infective therapeutic area on a y-o-y basis.

Cadila Healthcare recorded an EBITDA of Rs 752.5 crore versus the Street estimates of Rs 804 crore and the EBITDA margin stood at 20.6 percent.

Following the earnings announcement, Cadila’s stock was trading flat. At 1:30 pm, the shares of the pharma firm were trading 0.01 percent lower at Rs 414.45 on BSE, and were down 0.07 percent at Rs 414.20 on NSE.

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(Edited by : Kanishka Sarkar)