Formulation sales drive Natco Pharma’s net profit up 43 per cent

HYDERABAD: Mid-sized drug firm Natco Pharma's consolidated net profit for 2013-14 surged 43 per cent to Rs 103 crore on a strong formulations export performance. It’s total income for the full year has also grown up by 11% to Rs 739 crore on slight improvement in formulation sales across the board.

While the Hyderabad based company's formulations sales grew to Rs 387 crore from Rs 294 crore, the bulk drug sales were down to Rs 221 crore from Rs 237 crore.

The company said in a statement that, the turnover and net profit growth was driven by strong performance on account of export of finished dosage formulations to North America and South America in addition to growth in the domestic oncology products division by 17 per cent.

Shares of Natco Pharma on Thursday closed at Rs.746.75 down 1.92 per cent at BSE. While the benchmark Sensex ended down by 1.31 per cent at 24,234.15 points.