62.50% Dividend: This Pharma Company Announces Record Date After Profit Zooms 3x; Do You Own?

Natco Pharma hit its 52-week high just two days after announcing stellar financial results for the third quarter ended December 31, 2023. The company's net profit soared threefold to Rs 213 crore, supported by a 54% year-on-year increase in revenue, reaching Rs 759 crore. The financial performance has catapulted Natco Pharma's shares trading with gains of over 16% at Rs 1,032.60 per share as of 2:15 pm on the National Stock Exchange (NSE). The stock has also witnessed a surge of nearly 65% in the last one year.

Natco Pharma reported a net profit of Rs 213 crore in Q3 FY24, marking a growth of over 300% compared to Rs 62 crore in the same quarter the previous year. The company's revenue witnessed an impressive surge, reaching Rs 759 crore, up 54% from Rs 493 crore in Q3 FY23.

Consolidated EBITDA for the quarter stood at Rs 268 crore, a substantial improvement from Rs 106 crore in the corresponding quarter of the previous fiscal year. The consolidated margins also experienced a significant boost, reaching 35.3%, up from 21.5% in the same quarter last year.

The pharma company announced its third interim dividend for the financial year 2023-24, showcasing the company's commitment to rewarding its shareholders. The Board of Directors declared a dividend of 62.50% per equity share, translating to Rs 1.25 per share with a face value of Rs 2 each.

"The Board of Directors of the Company at their meeting held today have Declared a third interim dividend of Rs.1.25/- (Rupees one and paise twenty-five only) (62.50%) each per equity share of Rs.2/- (Rupees two only) each for the financial year 2023-24...," stated the regulatory filing by Natco Pharma.

To ascertain the eligibility of shareholders for the third interim dividend, Natco Pharma has fixed Monday, February 26, 2024, as the record date. Shareholders owning the company's stock on this date will be entitled to receive the dividend.

"The date for taking on record of its shareholders eligible for the purpose of payment of the third interim dividend i.e., record date is fixed as Monday, the 26th day of February 2024...," announced the pharmaceutical company.

The payment of the declared dividend is scheduled to commence on March 4, 2024, providing shareholders with a tangible return on their investment in Natco Pharma.

Investors and market analysts are closely monitoring Natco Pharma's trajectory, and the positive trends in both financial performance and shareholder rewards indicate a robust future outlook for the company. The pharmaceutical giant continues to demonstrate resilience and strategic prowess in navigating the dynamic landscape of the healthcare industry.

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