Natco Pharma Q4 profit surges nearly threefold to Rs176.7 crore
Natco Pharma’s consolidated net profit for the fourth quarter rose to Rs176.7 crore, from Rs62.8 crore a year ago, on the back of robust sales in the US market
New Delhi: Natco Pharma on Tuesday posted nearly threefold increase in consolidated net profit at Rs176.7 crore for the fourth quarter ended March, on the back of robust sales in the US market. The Hyderabad-based firm had reported a net profit of Rs62.8 crore during the same period of previous fiscal.
The company’s net revenue rose to Rs577.2 crore for the fourth quarter as compared to Rs394.8 crore in the previous fiscal, Natco Pharma said in a regulatory filing.
For the year ended 31 March, the drug firm posted a consolidated net profit of Rs486 crore as compared to Rs157.1 crore last year, showing a growth of 209.3%. Total revenue for the year rose to Rs2,078.9 crore for the year as against Rs1,089.7 crore for the last year, reflecting an year-on-year growth of 90.8%.
“The revenue and profit growth for the company during the financial year was driven primarily due to the sales of generic Oseltamivir product in the US market and continued growth of domestic formulations business,” the company said. Shares of the company ended 5.7% up at Rs939.65 on the BSE.