Hyderabad-based Natco Pharma Limited has reported a 126% jump in consolidated net profit at Rs 54.44 crore for the quarter ended March, 2015 on the back of a reversal of Rs 31.17 crore of differed tax liabilities. However, the net profit from ordinary activities after tax was marginally down at Rs 23.27 crore as compared to Rs 24.02 crore in the corresponding quarter last year.
Total income for the quarter under review grew 5.28% at Rs 204 crore as compared with Rs 193.76 crore in the corresponding previous quarter, helped by the revenue growth from bulk chemicals as well as formulations.
There was a steep increase in gross profit margins from bulk chemicals, which contributed Rs 25.93 crore to the gross profits as compared to just Rs 5.04 crore in the year ago period. The same from the formulations has come down to Rs 41.59 crore as compared with Rs 48.99 crore in the corresponding previous quarter.
The net profit after tax was recorded as Rs 134.61 crore as compared to Rs 102.74 crore last year. "This includes a decrease in profit on account of an extraordinary charge of Rs 15.13 crore due to a legal settlement and an increase in profit on account of a reversal of deferred tax liability of Rs 31.17 crore,"the company said in a press release.
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