Natco Pharma, a Hyderabad-based drug firm, has reported a significant increase in its net profit for the second quarter ending September 30, 2023. The company’s consolidated net profit jumped to an impressive Rs 369 crore, marking a remarkable over six-fold increase from the Rs 57 crore reported in the same period last fiscal year.
Moreover, the company’s consolidated total revenue also saw a substantial rise, reaching Rs 1,061 crore for the period under review, compared to the Rs 453 crore reported in the year-ago period.
Natco Pharma attributed its strong performance during the quarter to the growth in formulation exports and increased sales in the domestic agrochemical business. The impressive financial results reflect the company’s solid performance and strategic growth in the pharmaceutical industry.