The Hindu Business Line : Natco Pharma net grows 65%

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Hyderabad Jan. 30 Natco Pharma Ltd has recorded a 65 per cent growth in net profit for the quarter ended December 31, 2006 at Rs 8.69 crore (Rs 5.25 crore).

The revenues for the quarter stood at Rs 69 crore on a consolidated basis for the quarter under review against Rs 46 crore (standalone) recorded in the same quarter last year. Natco Pharma had acquired a US drug store in January 2006.

The board of the Hyderabad-based company took on record the un-audited financial results on Tuesday. The consolidated revenues for the nine months ended on December 31, 2006 have amounted to Rs 201 crore (Rs 146 crore), an increase of over 37 per cent.

Consolidated revenues

It may be mentioned that the consolidated revenues for the entire financial year 2006 amounted to Rs 207 crore. Similarly, the net profit for the nine-month period during the year was Rs 26.52 crore (Rs 19.16 crore), while the net profit for the entire year 2006 amounted to Rs 23.80 crore. The diluted earnings per share, on an annualised basis, worked out to Rs 12.90, a company press release said.

The company has a pipeline of new launches slated during the next quarter and is likely to close acquisition of further retail businesses in the US before end March 2007.

The board also allotted 1,35,462 equity shares of Rs 10 each to the FCCB holders ITF Mauritius Ltd, who had exercised their right of conversion of bonds into shares. It allotted another 1,08,625 shares of Rs 10 each to employees under stock option scheme.