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Drug firm Natco Pharma today reported 27.59% rise in consolidated net profit to Rs 21.78 crore for the quarter ended June 30, 2013 mainly on account of robust exports.
The company had posted a net profit of Rs 17.07 crore for the corresponding period previous fiscal, Natco Pharma said in a filing to BSE.
Consolidated total income from operations of the company rose to Rs 172.51 crore for the quarter under consideration from Rs 140.84 crore for the same period year ago.
Exports of active pharmaceutical ingredients (APIs) and finished dosage pharmaceutical formulations continue to drive the growth, Natco Pharma said.
"With a favourable verdict having been received from the Federal Circuit Court, the company is awaiting US FDA approval of its ANDA for Glatiramer Acetate (Copaxone) for a possible launch in May 2014 in association with Mylan Inc," it added.
Shares of Natco Pharma today closed at Rs 621.15 per scrip on BSE, up 2% from its previous close.
