Natco Pharma Q3 Profit Soars 300% to Rs 212.7 Cr

New Delhi, Feb 14 (PTI) Natco Pharma Ltd on Wednesday 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.