Pharmabiz
 

Natco Pharma consolidated net profit dips by 8.6% in Q2

Our Bureau, MumbaiMonday, November 16, 2015, 14:45 Hrs  [IST]

Natco Pharma, a Rs.775 crore pharma major from Hyderabad, has posted poor performance during the second quarter ended September 2015 and its consolidated net profit declined by 8.6 per cent to Rs.29.57 crore from Rs.32.37 crore in the corresponding period of last year. However, its net sales increased by 6.6 per cent to Rs.222.77 crore from Rs.209.06 crore. EPS declined to Rs.8.84 from Rs.9.79 in the last period.

The sales of bulk drugs declined sharply by over 30 per cent to Rs.51.98 crore from Rs.74.31 crore in the similar quarter of last year. The sales of formulations, however, improved by 33.9 per cent to Rs.159.10 crore from Rs.118.82 crore.

The company has fixed record date as November 28, 2015 for the purpose of sub-division of 1 (One) equity share of face value of Rs.10/- each into 5 (five) equity shares of Rs.2/- each. It has allotted 16 lakh equity shares of Rs.10 each at a premium of Rs.2,120.55 per equity share on September 18, 2015 pursuant to a qualified institutions placement. Share issue expenses amounting to Rs.6.42 crore have been adjusted against the securities premium account in terms of the provisions. As at the end of September 2015, its equity capital stood at Rs.34.83 crore as against Rs.33.07 crore in the last period.

For the first half ended September 2015, Natco's consolidated net sales increased by 9.8 per cent to Rs.438.46 crore from Rs.399.36 crore. However, its net profit declined by 12.2 per cent to Rs.57.80 crore from Rs.65.83 crore. With lower profit, EPS declined to Rs.17.34 from Rs.19.91 in the last period.

 
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