Natco Pharma Q2 net surges 83% to ₹677 crore on robust growth in formulation exports
Generic drugmaker Natco Pharma consolidated net profit surged 83% to ₹676.5 crore for the quarter ended September, from ₹369 crore a year earlier, on the back of a robust growth in formulations exports.
Total revenue of the company, which is also into crop protection products, increased 35.3% to ₹1,434.9 crore (₹1,060.8 crore) despite a decline in the contribution of active pharmaceutical ingredients (APIs) and crop health sciences business (CHS) segments.
The company has shown continued strong growth during the second quarter driven by exports formulation business and stable domestic pharma business, Natco Pharma said.
₹1.50 interim dividend
The company has declared a second interim dividend of ₹1.50 per equity share, for FY 2024-25. The record date is November 25 and the payment of interim dividend will start from December 2, it said.
Formulations exports for the second quarter at ₹1,211.3 crore (₹792.3 crore). For the June quarter, it was Rs.₹1210.1 crore, segmental revenue details showed.
Formulations revenue from the domestic market was flat at ₹102.3 crore (₹102.5 crore). Other operating and non-operating income rose to ₹57.6 crore (₹32.4 crore). Share of API in total revenue was lower year on year at ₹49.6 crore (₹77.8 crore). For the June quarter, it stood at ₹39.2 crore. CHS revenue totalled ₹14.1 crore as against ₹55.8 crore a year earlier and ₹15.6 crore for the June quarter.
Published - November 12, 2024 05:34 pm IST
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