Natco Pharma's Profits Soar by 83% in Q2 2024

Natco Pharma reported an 83% increase in net profit to Rs 676 crore for the September 2024 quarter, driven by strong sales. Revenue rose to Rs 1,371 crore from Rs 1,031 crore a year ago. The company declared a second interim dividend and shares slightly dipped to Rs 1,393.15.

Natco Pharma has announced an impressive 83% jump in its net profit for the September 2024 quarter, reaching Rs 676 crore, significantly boosted by strong sales figures.

In the corresponding quarter of the previous fiscal year, the company had reported a net profit of Rs 369 crore. This remarkable growth is attributed to flourishing exports in the formulation business, coupled with a stable domestic pharmaceutical segment.

In addition to this financial achievement, Natco Pharma's board has also declared a second interim dividend of Rs 1.5 per equity share. Despite the positive financial news, shares of the pharmaceutical company saw a minor decline, closing at Rs 1,393.15 on the BSE.

(With inputs from agencies.)