Natco Pharma Q2 net down 6% at Rs 19 crore

Hyderabad-based Natco Pharma Limited has reported an 8.65% decline in consolidated net profit at Rs 29.18 crore as compared with Rs 32.37 crore in the corresponding quarter previous year.

Total income from operations increased 6.51% to Rs 222.77 crore from Rs 209 crore in the year ago period.

The share of formulations business rose to 78.75% or Rs 159.10 crore of the total income from operations during the quarter under review. Formulations comprised 62% of the total revenues in the year ago period.

The growth in formulations revenue has not adequately reflected on profits as seen from the segment wise performance. On the other hand the revenues from bulk chemicals dropped by 30% to Rs 51.98 crore as compared with Rs 74.31 crore in the corresponding previous quarter.