Announces Q1 (Standalone & Consolidated) results, Limited Review Report (Standalone & Consolidated) & Results Press Release for the Quarter ended June 30, 2016

• Security Code: 524816
• Company: NATCOPHARM

Natco Pharma Ltd has announced the following results for the quarter ended June 30, 2016:

"The Unaudited Standalone results for the Quarter ended June 30, 2016

The Company has posted a net profit of Rs. 508.70 million for the quarter ended June 30, 2016 where as the same was at Rs. 339.10 million for the quarter ended June 30, 2015. Total Income is Rs. 3143.50 million for the quarter ended June 30, 2016 where as the same was at Rs. 1968.80 million for the quarter ended June 30, 2015.

- NATCO Organics Limited ("NOL"), a wholly owned subsidiary of the Company, amalgamated with the Company, with effect from 1 April 2015 (“the appointed date”). The amalgamation was pursuant to a composite scheme of amalgamation sanctioned by the Honourable High Court of Judicature at Madras vide their Order dated 28 April 2016. Pursuant thereto all the assets and properties, both movable and immovable, rights, title and interests, secured and unsecured debts, borrowings, and all other duties, debts, liabilities, undertakings and obligations of NOL, have been transferred to and vested in the Company retrospectively with effect from 1 April 2015. The amalgamation was give effect during the quarter ended March 31, 2016 and has been accounted for under the ‘pooling of interests' method as prescribed by Ind AS 103 specified under Section 133 of the Companies Act, 2013, read with Rule made thereunder. Accordingly, the assets, liabilities and reserves of NOL have been taken over at their book values and in the same form. The results for the corresponding quarter ended June 30, 2015 are without effects of such amalgamation and to that extent, are not comparable with the quarter ended June 30, 2016.

The Consolidated Results are as follows:

The Unaudited Consolidated results for the Quarter ended June 30, 2016

The Group has posted a net profit after tax, minority interest and share of profit of associates of Rs. 476.50 million for the quarter ended June 30, 2016 as compared to Rs. 280.70 million for the quarter ended June 30, 2015. Total Income has increased from Rs. 2255.40 million for the quarter ended June 30, 2015 to Rs. 3303.80 million for the quarter ended June 30, 2016.