The announcement was made after trading hours yesterday.

Natco Pharma is engaged in the business of pharmaceuticals which comprises research and development, manufacturing and selling of bulk drugs and finished dosage formulations. The company has manufacturing facilities in India which caters to both domestic and international markets including regulated markets like United States of America and Europe.

The company's consolidated net profit tumbled 22.5% to Rs 62.30 crore on 12.1% decline in net sales to Rs 492.50 crore in Q3 FY23 over Q3 FY22.