Natco Pharma Q3: Net profit down 22.5% at ₹62.3 cr, dividend declared
1 min read . Updated: 09 Feb 2023, 02:12 PM IST
Premium- The drug maker has declared a third interim dividend of ₹1.25. The payment of the said interim dividend will be from l March, 2023
Natco Pharma on Monday reported a net profit of ₹62.3 crore, down 22.5% as against ₹80.4 crore year-on-year. Revenue came in at ₹492.5 crore, down 12.1% as compared to ₹560.5 crore YoY.
The company has also declared third interim dividend of ₹1.25 per share, i.e., 62.50%. The date for taking on record of its shareholders eligible for the purpose of payment of the third interim dividend i.e., record date is fixed as Tuesday, the 21 February, 2023. The payment of said interim dividend will be from l March, 2023.
"The Board of Directors have approved to make the investment for an amount not exceeding Rs13 Crores (6.68% of the capital on a fully diluted basis) in Redcliffe Hygiene Private Limited," the company said in a regulatory filing.
A few days back, the drug maker said that US Food and Drug Administration (USFDA) conducted an inspection at its formulation facility in Ramky SEZ, near Visakhapatnam (Vizag), India.
Inspection was held from 30 January, 2023 to 3 February, 2023.
Post the end of the inspection, the facility received two observations, one on written production process control procedure and the other on investigation procedure.
The firm has also said that it is confident of addressing all observations within the stipulated time.
Natco Pharma is engaged in the business of pharmaceuticals which comprises research and development, manufacturing and selling of bulk drugs and finished dosage formulations.
The drug maker has manufacturing facilities in India which caters to both domestic and international markets including regulated markets such as the US and Europe.
