Business Daily from THE HINDU group of publications
Friday, Oct 27, 2006
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Business Daily from THE HINDU group of publications Friday, Oct 27, 2006 ePaper |
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Corporate Results
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Pharmaceuticals Corporate - Dividend Announcement Natco net profit grows 17 pc in Q2 Our Bureau
Hyderabad , Oct. 26 Natco Pharma Ltd (NPL) has reported a growth of 24 per cent in turnover and 17 per cent in net profit during the second quarter of the current fiscal ended September 2006. The NPL board, which met here on Thursday to take on record unaudited financial results, has recommended an interim dividend of 12.5 per cent for the year (Rs 1.25 per share). The company has posted a consolidated turnover of Rs 63 crore as against Rs 54 crore in the corresponding quarter of the previous fiscal and a net profit of Rs 9.76 crore (Rs 8.38 crore). For the first six-month period, the company recorded a growth of 32 per cent in turnover at Rs 132 crore (Rs 100 crore), while net profit improved by 28 per cent at Rs 20.81 crore (Rs 13.99 crore). The company attributed the improved performance to US retail business and oncology formulations in the domestic market. In a press release here, the company said it planned to expand its retail operations in the US and discussions were in progress to acquire two stores.
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