Hyderabad based Natco Pharma has posted a steep rise in net profit for the quarter ended September, 2003 at Rs. 6.02 crore against Rs. 4.5 million registered for the same quarter last year. The aggregate revenues have risen to Rs. 38.44 crore, an increase of 28 per cent compared to its performance in Q2 of fiscal 2003. For the first half of the current fiscal the net profit shot up to Rs. 8.06 crore from Rs. 7.8 million whereas total revenues grew to Rs. 71 crore from Rs. 53.45 crore, a rise by 33 per cent. Half-yearly earning per share was at Rs. 4.64.
Natco has reported to have entered into collaborative agreements with a number of academic institutions and international specialists to develop efficient, low cost life saving drugs. Its facilities are being upgraded to comply with US FDA requirements. It is also planning to set up a new unit for anti-cancer drugs at Chennai.