Natco Pharma to raise Rs 100 cr; Q2 net up 11% to Rs 15 cr

Natco Pharma today said it will raise Rs 100 crore to fund its expansion plans and research activities.

"To fund its ambitious expansion plans and its research activities, the company is planning to raise funds to the tune of Rs 100 crore through an appropriate capital offering. The various modalities in this regard are being worked out," Natco Pharma said in a filing to Bombay Stock Exchange (BSE).

The Hyderabad-based firm today posted a rise of 10.84 per cent in its consolidated net profit to Rs 14.82 crore for the second quarter ended September 30.

The company had a net profit of Rs 13.37 crore in the same period last fiscal, it said.

Total income of the company stood at Rs 127.37 crore in the second quarter, compared to Rs 117.81 crore in the same period previous fiscal.

For the six-month period ended September 30, the company reported a net profit of Rs 25.41 crore, compared to Rs 21.53 crore in the same period last fiscal.

The company's total income in the second quarter stood at Rs 249.43 crore, compared to Rs 230.42 crore in the same quarter last fiscal.

Shares of Natco Pharma today closed at Rs 321.80 on the BSE, up 3.26 per cent from its previous close.