Natco Pharma Q3 net surges to ₹213 cr. on higher revenue

However, both net profit and total income on a sequential basis were lower. For the September quarter, the drugmaker had posted ₹369 crore in net profit on a total revenue of ₹1,060.8 crore.  | Photo Credit: Company website

Natco Pharma reported consolidated net profit for quarter ended December surged to ₹.212.7 crore from ₹62.3 crore in the year-earlier period on the back of a 55% increase in total income.

However, both net profit and total income on a sequential basis were lower. For the September quarter, the drugmaker had posted ₹369 crore in net profit on a total revenue of ₹1,060.8 crore.

The increase in total revenue, year-on-year, for the third quarter to ₹795.6 crore (₹513.3 crore) was driven primarily by higher formulations exports at ₹605.6 crore (₹333.7 crore). Revenue from domestic formulations declined to ₹99.4 crore (₹101.1 crore), while APIs contribution was marginally better at ₹46.3 (₹42.6 crore).

Natco Pharma said the company has shown strong growth across businesses compared to last year and is confident of its strategy going forward. It has declared an interim dividend of ₹1.25 per equity share. On Wednesday, shares of the company ended 3.10% higher at ₹883.85 apiece on the BSE.