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Natco Pharma reports over 3-fold rise in net profit at Rs 212.7 crore in Q3

Ruchika SharmaWritten by Ruchika Sharma Published On 2024-02-15T12:30:22+05:30  |  Updated On 22 March 2024 2:47 PM IST
Natco Pharma reports over 3-fold rise in net profit at Rs 212.7 crore in Q3
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Hyderabad: Natco Pharma Ltd has reported over three-fold rise in consolidated net profit at Rs 212.7 crore in the third quarter ended December 31, 2023 on the back of robust revenue growth. The company had posted a consolidated net profit of Rs 62.3 crore in the same period last fiscal, Natco Pharma said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 758.6 crore, as against Rs 492.5 crore in the year-ago period, it added. Total expenses were higher at Rs 539.3 crore, up from Rs 431.9 crore in the same quarter last fiscal, the company said.

There was strong growth across businesses compared to last year, Natco said, adding it is confident of its strategy going forward. Revenue from export of formulations was at Rs 605.6 crore in the third quarter, up from Rs 333.7 crore in the year-ago period.

However, domestic formulations revenue was down at Rs 99.4 crore, as compared to Rs 101.1 crore in the corresponding period last fiscal, it said. Active pharmaceutical ingredients vertical clocked revenue of Rs 46.3 crore, up marginally from Rs 42.6 crore the same period a year ago, the company added.

Natco said its board of directors at their meeting held on February 14, 2024 have approved a third interim dividend of Rs 1.25 per equity share of Rs 2 each for the financial year 2023-24

Read also: Natco Pharma invests around US$ 2 million in Cellogen Therapeutics

Natco Pharma Limited was incorporated in Hyderabad in the year 1981 with an initial investment of INR 3.3 million. With a modest beginning of operations as a single unit with 20 employees, Natco today has eight manufacturing facilities spread across India with dedicated modern research laboratories, capabilities in New Drug Development, etc.
Read also: Natco Pharma concludes transition of DASH Pharma into Natco Pharma USA
natco pharmanatco pharma newsnet profitfinancial resultsQ3 result
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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