Hyderabad based Natco Pharma Limited (NPL) has doubled its net profits during the third quarter of FY 2001-02 as compared to the previous year. It earned a profit at Rs 3.74 crore during the quarter as against Rs 1.82 crore of the previous quarter. The cumulative turnover for the nine months stood at Rs 60 crore as compared to Rs 54 crore last year. The net profit for the nine months was Rs 4.15 crore as against a net loss of Rs 1.31 crore in FY 2001.
The company, which has recently made a foray into branded formulations, marked total revenue of Rs 25 crore during the period under consideration. It is again a 39 per cent jump in top-line compared to each of the two previous quarters in the year.
Speaking to Pharmabiz.com, Rajeev Nannapaneni, Business Development Manager (NPL) said that the company is in the process of stabilizing its branded formulation business. It has already expanded its business activities to the states of Andhra Pradesh, Karnataka, Goa and Tamil Nadu. NPL is to have its presence in West Bengal and Maharashtra also by the end of January.
According to Rajeev, the company is to gain much from its bulk business also in the near future. NPL is expecting to file six to seven ANDAs in European markets within a year. Approvals for one or two products are also expected during the period. NPL is concentrating on the supply of bulk drugs to the regulated markets and is in the process of setting up a new MCA block plant exclusively to cater to the export demands.