The Hindu Business Line : Natco Q4 net falls marginally

Hyderabad, July 1 Natco Pharma Ltd’s net profit remained nearly flat at Rs 11.27 crore in the fourth quarter ended March 31, 2009 compared with Rs 11.45 crore in the corresponding quarter of previous fiscal.

The revenue increased to Rs 127 crore (Rs 91 crore).

For the full year, the Hyderabad-based company’s net profit grew by 8 per cent to Rs 44 crore (Rs 40.52 crore). An asset impairment of Rs 3 crore in the US due to the economic slowdown and the phase I clinical trials expenses of a new chemical entity being developed by the company impacted the growth in profits, the company said in a release.

The total revenue increased 28 per cent to Rs 465 crore on a consolidated basis from Rs 364 crore in the year-ago period.

Making progress

During the year, the company had made “significant progress in its efforts to introduce its products in the European and US markets, which was reflected in a more than double growth in the formulations exports to Rs 31 crore,” it said.

As part of its focus on collaborative research, Natco had recently tied up with Dr Reddy’s Laboratories for a basket of oncology products. Earlier, it tied up with Lupin Ltd and Mylan Inc.

It intended to develop, supply and market its products in collaboration with these companies, the release added.