Natco Pharma, a Rs.775-crore pharma giant from Hyderabad, has suffered setback during the first quarter ended June 2015 as its consolidated net profit declined by 15.6 per cent to Rs.28.23 crore from Rs.33.46 crore in the corresponding period of last year. Its EBDITA improved marginally to Rs.59.29 crore from Rs.58.69 crore. With lower net profit, EPS declined to Rs.8.50 from Rs.10.12 in the last period.

Its net sales increased by 13.2 per cent to Rs.215.69 crore from Rs.190.48 crore. The sales of formulations went up to Rs.141.46 crore and Rs.89.66 crore and sales of bulk chemicals declined by 34.6 per cent to Rs.55.80 crore from Rs.85.27 crore. Its other operating income declined by 59 per cent to Rs.8.02 crore from Rs.19.48 crore. Its interest cost went up by 23.2 per cent to Rs.8.08 crore from Rs.6.56 crore.

The Board of Directors has approved a sub-division of face value of its equity shares from Rs.10 each to that of Rs.2 each. Further, the company received approval from Foreign Investment Promotion Board (FIPB) to increase of foreign investment from 24 per cent to 31.5 per cent of the paid up equity share capital and issue securities to qualified institutional buyers up to Rs.450 crore.