Natco Pharma Reports 550% Surge in Q2 Net Profit, Shares Dip 2% on Profit-Taking

15 Nov 2023 , 01:13 PM

Natco Pharma’s shares decline by 2% on November 15, attributed to profit-taking despite the company reporting a significant 550% surge in Q2 net profit. The pharmaceutical company announces a consolidated net profit of Rs 369 crore for the September quarter, marking a remarkable increase from Rs 56.8 crore reported a year ago.

Total sales for the quarter witness a substantial growth, more than doubling to Rs 1,061 crore, a 134.7% increase from Rs 452 crore in the previous year. The surge in net profit is attributed to the growth in formulation exports and increased sales in the domestic agrochemical business.

Formulations exports contribute significantly to revenue, generating Rs 792 crore compared to Rs 283 crore the previous year. The domestic formulations business follows with Rs 102 crore, while the crop health sciences segment earns Rs 56 crore in the reviewed quarter.

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