Natco Q1 net up 21%

Hyderabad-based Natco Pharma Limited reported a 21.67 per cent rise in consolidated net profit to Rs 17.07 crore for the quarter ended June, 2012 from Rs 14.03 crore in the corresponding quarter last year. Total income from operations stood at Rs 140.84 crore, an increase of 19.61 per cent over that of corresponding previous quarter Rs 117.75 crore. Expenditure grew 21.54 per cent to Rs 116.29 crore from Rs 95.68 crore in the year ago period largely from the increase in cost of materials and other expenses. Growth and the corresponding improvement in profitability from formulations business contributed to the bottomline growth.