On Wednesday, Natco Pharma Ltd. announced that its consolidated net profit for the first quarter ended June 30, 2023, increased by 31.2% to Rs. 420.3 crore.
In a regulatory statement, Natco Pharma said that the business had reported a consolidated net profit of Rs 320.4 crore during the same time the prior fiscal year.
According to the statement, total operating revenue for the quarter under review was $1,140.5 million, up from $884.6 million in the same quarter last year.
In comparison to a year earlier, total costs increased to Rs 660.2 crore from Rs 533.1 crore.
According to the firm, exports of formulations, robust domestic business development in the pharma and agriculture sectors, and sustained sales from subsidiaries served as the main business drivers during the June quarter.
Formulation exports increased from Rs 736.9 crore to Rs 884.2 crore in the April-June quarter, while domestic formulation sales increased to Rs 132.4 crore from Rs 88.5 crore.
The segment’s revenue for active pharmaceutical ingredients increased to Rs. 75.1 crore from Rs. 50.8 crore in the same period last year.
The business claimed to have budgeted Rs 51 crore for ongoing patent infringement legal proceedings involving its goods in India, as well as Rs 17 crore for staff special incentives.
It further said that for FY24, the board of directors has declared an interim dividend of Rs 7 per equity share worth Rs 2.
