Natco Pharma Posts Over Two-Fold Jump in Q2 PAT to ₹181.6 Crore

Natco Pharma on Monday reported over two-fold increase in consolidated profit after tax at ₹181.6 crore for the second quarter ended September 30, 2018. The company had posted a consolidated profit after tax of ₹84.4 crore in the same quarter last fiscal, Natco Pharma said in a regulatory filing. Total revenue during the period under review stood at ₹583.5 crore. It was at ₹432.2 crore in the year-ago quarter. The company said its board of directors at its meeting on Monday had approved the buyback of fully paid-up equity shares of face value of ₹2 each at a price not exceeding ₹1000 per share for an aggregate amount of ₹250 crore from the open market through stock exchange mechanism. The maximum buyback size represents 8.10 percent and 8.22 percent of the aggregate of the total paid up equity capital and free reserves, respectively, of the company, it added. – Money Control