Natco Pharma Q3 net profit rises over two-fold to Rs 37 cr

Net sales of the company increased by 43% to Rs 263 crore

Drug firm Natco Pharma today reported over two-fold jump in consolidated net profit at Rs 37.15 crore for the third quarter ended December 2015.

The company had posted a net profit of Rs 14.34 crore during the same quarter of the previous fiscal as it was hit by a one-off item of Rs 1,513 crore paid for settlement of a legal dispute.

Net sales of the company also increased by 42.79% to Rs 263.12 crore during the period under review as against Rs 184.27 crore in the same period last fiscal, Natco Pharma said in a BSE filing.

In a separate filing, the company informed that its board has recommended an interim dividend of Rs 1.25 per equity share.

Natco Pharma shares closed 1.35% higher at Rs 446.40 apiece on the BSE.