Companies

Tax charge pulls Natco Pharma net down by 19%

Our Bureau Hyderabad | Updated on November 21, 2017 Published on May 30, 2013




Natco Pharma Ltd’s standalone net profit decreased 19.3 per cent at Rs 11.72 crore in the fourth quarter ended March 31, 2013 compared to Rs 14.53 crore in the same period last year.

The revenue of the Hyderabad-based company, however, increased 14 per cent to Rs 143 crore (Rs 126 crore).

The dip in profit was due to an additional, non-cash deferred tax liability of Rs 7 crore during the quarter due to increased capital expenditure, Natco said in a release issued on Thursday. For the year 2012-13, net profit increased to Rs 78 crore (Rs 62 crore). The revenue grew by 28 per cent to Rs 559 crore (Rs 435 crore).

The growth was driven by a 51 per cent increase in revenue from the active pharmaceutical ingredients (APIs) segment and finished dosages’ exports.

The company expects to grow at 15-20 per cent this year. This will be driven by APIs and finished dosage pharmaceutical formulation exports,” P. Bhaskara Narayana, Chief Financial Officer of Natco told Business Line.

There would also be some product launches this year, he added.

Natco pharma’s scrip almost remained flat on the Bombay Stock Exchange on Thursday to end at Rs 453.65.

Meanwhile, Jasti Sambasiva Rao, director of the company, had resigned due to personal preoccupations, the BSE was informed.

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Published on May 30, 2013
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