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| Exchange Disseminated Time 14/02/2017 15:00:10 | Natco Pharma Ltd has announced the following results for the quarter ended December 31, 2016:
"The Unaudited Standalone results for the Quarter ended December 31, 2016
The Company has posted a net profit of Rs. 1970.70 million for the quarter ended December 31, 2016 where as the same was at Rs. 433.20 million for the quarter ended December 31, 2015. Total Income is Rs. 6727.60 million for the quarter ended December 31, 2016 where as the same was at Rs. 2637.10 million for the quarter ended December 31, 2015.
- NATCO Organics Limited ("NOL"), a wholly owned subsidiary of the Company, amalgamated with the Company, with effect from April 01, 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 April 28, 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 April 01, 2015. The amalgamation was given 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 the rules 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 December 31, 2015 and year to date result for the period April 01, 2015 to December 31, 2015 are without effects of such amalgamation and to that extent, are not comparable with the quarter ended December 31, 2016 and year to date result for the period April 01, 2016 to December 31, 2016.
The Consolidated Results are as follows:
The Un-audited Consolidated results for the Quarter ended December 31, 2016
The Group has posted a net profit after non-controlling interests of Rs. 1950.80 million for the quarter ended December 31, 2016 as compared to Rs. 369.30 million for the quarter ended December 31, 2015. Total Income has increased from Rs. 2934.50 million for the quarter ended December 31, 2015 to Rs. 6851.30 million for the quarter ended December 31, 2016. |
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