On Wednesday, November 15, 2023, i.e. today, the Natco Pharma Ltd. IPO reportedly was trading 9 percent higher when the market opened. The significant surge in the share prices of Natco Pharma Ltd. was seen after the firm racked a multi-fold jump in the net profit in the quarter ended September for FY24 and the announcement of dividends for shareholders. The early reports added that Natco Pharma Ltd. was trading at 9.59 percent higher which means Rs 869.95 apiece when it opened on BSE. Here we have come up with all the necessary details about Natco Pharma Ltd. IPO. Stick with this page and go through it till the end for more details. Swipe down the page and read more details.
On Tuesday, November 14, 2023, Natco Pharma Ltd. issued its report for the quarter that ended in September 2023. In the second quarter of FY24, Natco Pharma posted a net profit of Rs 369 crore to register a whopping growth of 550 percent, for the corresponding year the net profit of Natco Pharma Ltd. was Rs 56.8 crore. Speaking of the total sale of the company, the firm generated Rs 1060.8 crore against the total sale of Rs 452.6 crore YoY in the second quarter of FY24. Swipe down the page and read more details.
While issuing its financial report for the second quarter of the current fiscal year, Natco Pharma Ltd. stated, “The company business was strong during the quarter due to growth in formulation exports and increased sales in domestic agrochemical business,” The API segment revenue of Natco Pharma grew to Rs 77.8 crore during the quarter under review from Rs 44.1 crore in the corresponding quarter previous year. The formulations segment exports revenue increased to Rs 792.3 crore from Rs 283.4 crore, Year-on-Year, while domestic formulations business revenue grew to Rs 102.5 crore from Rs 93.5 crore, YoY.
In Q2FY24, Crop Health Sciences business revenue increased from Rs 3 crore to Rs 55.8 crore in the corresponding quarter of last fiscal year. Other non-operating and operating income income jumped from Rs 28.6 crore to Rs 32.4 crore YoY. The Board of Directors of Natco Pharma declared a second interim dividend of Rs 1.25 per equity share of Rs 2 each, for the current fiscal year. The date for taking on record of its shareholders eligible for the purpose of payment of the second interim dividend, the record date is scheduled as Friday, November 24, 2023. Stay tuned to this website for more details and further updates.