Business

Natco Pharma net jumps to ₹320 crore

Representational photo

Representational photo | Photo Credit: AP

Natco Pharma has posted a consolidated net profit of ₹320 crore for the quarter ended June, a manifold increase from ₹75 crore in the year earlier period.

The net profit came as the total revenue rose 115% to ₹918.9 crore (₹427.3 crore). Export sales of Lenalidomide product, which is indicated in the treatment of certain cancer, to the U.S. was a major contributor to the revenue and profitability during the quarter. Pharma domestic formulations business remained steady, the company said.

A sharp rise in formulation exports to ₹736.9 crore (₹145.4 crore) boosted the revenue even as contribution of API at ₹50.8 crore (₹61.6 crore) and formulations (domestic market) at ₹88.5 crore (₹200.6 crore) declined.

On the expense side, there was a one-time cost associated with retirement schemes and higher than usual research and development costs for product development, it said.

Interim dividend

The company has declared an interim dividend of ₹3.50 per equity share (of ₹2 each) for 2022-23. The record date is fixed as August 22 and the interim dividend will be paid from August 30.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Sep 14, 2022 3:18:57 pm | https://www.thehindu.com/business/natco-pharma-net-jumps-to-320-crore/article65750900.ece