Natco Pharma Sells Telangana Land for ₹115.57 Crore

1 Dec 2024 , 07:16 PM

Natco Pharma Ltd. has successfully completed the sale of about 14.38 acres or 72,358 square yards of land at Ranga Reddy district in Telangana for ₹115.57 crore along with infrastructure cost. Land sold with clear and marketable titles at Mekaguda Gram Panchayat, Nandigama Mandal, Telangana, India.

The company was ensured that the sale of the land and building did not constitute part of its operational assets so that the sale will, in no way, impact the company’s business operations. Natco emphasized the fact that the sale does not entangle any part of the core business or constitute sale of the company’s entire undertaking. Natco Pharma’s net profit rose a staggering 83% year-on-year to ₹676.5 crore for the September quarter, up from ₹369 crore in the same period last year.

The company’s revenue for the quarter rose by 33% on a year-on-year basis to ₹1,371 crore compared with ₹1,031 crore in the same quarter of the previous fiscal year. Natco’s EBITDA increased sharply by 75.7% to ₹804.2 crore while the EBITDA margin was also expanded to 58.66% from 44.40% in the same period last year. The increase in net profit and revenue have been driven by excellent performance by Natco in its export formulation business and stable performance in the Indian pharmaceutical market.