Natco Pharma Q1 profit up 97 pc at Rs 93.7 cr

Drug firm Natco Pharma today reported a 97.26 per cent rise in consolidated profit after tax to Rs 93.7 crore for the first quarter ended June 30, 2017 mainly on account of robust sales.

The company had posted a profit after tax of Rs 47.5 crore for the corresponding period of the previous fiscal, Natco Pharma said in a filing to BSE.

Consolidated total revenues of the company also rose to Rs 448.7 crore for the quarter under consideration, as against Rs 345.5 crore for the same period a year ago.

In a separate filing, Natco Pharma said its board has recommended payment of an interim dividend of Rs 1.25 per equity share of Rs 2 each for the financial year 2017-18.

The company also said it has received resignation letters from independent director B S Bajaj and director and president R&D and Tech A K S Bhujanga Rao due to personal reasons.

Shares of Natco Pharma today closed at Rs 952.55 per scrip on BSE, up 0.35 per cent from its previous close.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)