Natco Pharma reported a mixed set of numbers for the third quarter ended December 31, 2025, with strong revenue growth but some pressure on margins on a year-on-year basis.
Revenue from operations surged 36.3% YoY to ₹647.3 crore in Q3FY26, compared with ₹474.8 crore in the corresponding quarter last year. However, other income declined sharply by 67.1% YoY to ₹58.1 crore from ₹176.3 crore a year ago. As a result, total income increased 8.3% YoY to ₹705.4 crore, up from ₹651.1 crore in Q3FY25.
On the expenditure side, total expenses rose 11.7% YoY to ₹544.3 crore, compared with ₹487.4 crore in the year-ago period. The rise in expenses outpaced the growth in total income, leading to a marginal decline in profitability at the operating level.
Profit before tax slipped 1.6% YoY to ₹161.1 crore from ₹163.7 crore in Q3FY25. Total tax expense declined 33.9% YoY to ₹20.7 crore versus ₹31.3 crore last year, providing some cushion to the bottom line.
Profit before share of profit from associate stood at ₹140.4 crore, up 6.0% YoY from ₹132.4 crore. After accounting for share of profit from associate of ₹10.9 crore during the quarter, net profit rose 14.3% YoY to ₹151.3 crore, compared with ₹132.4 crore in the corresponding quarter of the previous financial year.
