NATCO announces 30% rise in revenues, increased proftis, and recommends an interim of 12.5%

The Board of Directors of NATCO Pharma Limited, which met at Hyderabad today, had taken on record the working results for the quarter / half year ended on 30th September, 2006. The following are the highlights of the results:

Half year ended on 30th September, 2006:
For the half year ended on 30th September, 2006, as compared to the half year ended on 30th September, 2005, the revenues have gone up by 32% (from Rs.100 Crores in financial year 2005-2006 to Rs.132 Crores - consolidated - for the financial year 2006-2007). The main drivers for revenues were the US retail business and the oncology formulations in the domestic market.

The profits, after tax, have gone up by 28% - from Rs.1399 lakhs in the first half of the financial year 2005-2006 to Rs.2081 lakhs during the corresponding period in the current financial year.

Quarter ended on 30th September 2006:
Revenues for the second quarter in the current year have gone up by 24% as compared to the last year (from Rs.54 Crores to Rs.63 Crores - consolidated). The post tax profit for the second quarter in the current year stood at Rs.976 lakhs, as compared to Rs.838 lakhs last year, recording an increase of 17%.

Interim Dividend:
The Board had recommended an interim dividend of 12.5% payable to the shareholders, the record date being 13th November, 2006.

Other Highlights:
The Company has plans to expand its retail operations in the USA and discussions are in progress to acquire two stores. Once these acquisitions are complete, the revenues and profits would spurt. Significant strides have been made in the oncology segment and the Company has reached the top slot amongst the Indian companies operating in the oncology segment.

Source : Equity Bulls

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