Natco Pharma Q1 profit up 97 pc at Rs 93.7 cr

Drug firm Natco Pharma today reported a 97.26 per cent rise in consolidated profit after tax to Rs 93.7 crore for the first quarter ended June 30, 2017 mainly on account of robust sales.
The company had posted a profit after tax of Rs 47.5 crore for the corresponding period of the previous fiscal, Natco Pharma said in a filing to BSE.
Consolidated total revenues of the company also rose to Rs 448.7 crore for the quarter under consideration, as against Rs 345.5 crore for the same period a year ago.
In a separate filing, Natco Pharma said its board has recommended payment of an interim dividend of Rs 1.25 per equity share of Rs 2 each for the financial year 2017-18.

The company also said it has received resignation letters from independent director B S Bajaj and director and president R&D and Tech A K S Bhujanga Rao due to personal reasons.
Shares of Natco Pharma today closed at Rs 952.55 per scrip on BSE, up 0.35 per cent from its previous close.