Natco Pharma Ltd’s consolidated net profit declined 15.6 per cent at Rs 28.23 crore in the first quarter ended June 30, 2015 compared to Rs 33.46 crore in the corresponding quarter of the previous year.
``Although the profit had decreased, the company expects strong sales growth with high margin products in the ensuing quarters of FY 2016,’’ it said in a release.
The revenue of the company increased 6.6 per cent at Rs 225.54 crore (Rs 211.48 crore).
The company’s board has approved a sub-division of face value of its equity shares from Rs 10 to each to that of Rs 2. It had also discussed the item of raising funds for one of the subsidiaries, Timecap Overseas Ltd., Mauritius and authorised Vice-Chairman & CEO to explore various options for the same.
Natco’s scrip lost 2.38 per cent on the Bombay Stock Exchange on Wednesday to close at Rs 2,410.65.