Natco Q4 net soars nearly three-fold at Rs 176 cr, revenues up 46%

Company attributes strong performance to bird flu antiviral sales in the US

Natco Pharma has registered a nearly threefold growth in consolidated net profit at Rs 176.4 crore in the quarter ended March, 2017 when compared to Rs 62.8 crore in the corresponding quarter previous year.

The Hyderabad-based company's consolidated revenues increased 46 per cent to Rs 577.2 crore in the fourth quarter under review as compared to Rs 394.8 crore in the year ago period.

Natco's net profit for financial year 2016-17 has grown three times at Rs 484.9 crore from Rs 155.8 crore in the previous year. Its overall revenues have doubled to Rs 2,078.9 crore.

"The revenue and profit growth for the company during the financial year was driven primarily due to the sales of the generic Oseltamivir product in the US market and continued growth of domestic formulations business," Natco said in a statement.

Oseltamivir is a medication used to treat the bird flu virus in the human body.

The company's shares ended 5.7 per cent up at Rs 939.65, on the Bombay Stock Exchange on Tuesday.