Natco Pharma Q2 net profit surges nearly 6X to Rs 369 crore – Times of India

by The Technical Blogs

HYDERABAD: Pharma major Natco Pharma has clocked a multi-fold (547%) growth in consolidated net profit for the second quarter ended September 30, 2023, at Rs 369 crore as against nearly Rs 57 crore in the corresponding quarter of financial year 2022-23.
This was on a 134% jump in consolidated total revenue of Rs 1,061 crore for Q2FY24 as compared to Rs 453 crore in Q2FY23.
The Hyderabad based company attributed the performance during the quarter to growth in formulations exports and increased sales in the domestic agrochemical business.
While revenues from formulations exports surged nearly 180% to Rs 792 crore in Q2FY24 from Rs 283 crore in Q2FY23, revenues from domestic formulations rose nearly 10% to around Rs 103 crore in Q2FY24 from about Rs 94 crore in Q2FY23.
On the other hand, revenues from API (active pharmaceutical ingredients) during the quarter went up 76% to nearly Rs 78 crore as compared to Rs 44 crore in Q2FY23 and that from crop health sciences business soared 1760% to nearly Rs 56 crore from just Rs 3 crore in Q2FY23.
The company also said its board of directors have declared a second interim dividend of Rs 1.25 per equity share of Rs 2 each for FY 2024.

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