Business

Natco Pharma net declines 14.5%

Drugmaker Natco Pharma has reported a 14.49% decline in the consolidated net profit to ₹122.1 crore for the quarter ended June 30 even as revenue increased.

In the year-earlier period, it had registered a net profit of ₹142.8 crore. Total revenue for the quarter was ₹582.1 crore (₹513.3 crore) which, the company said, was driven primarily by exports formulations business.

During the quarter, the company faced margin pressure on both domestic and international formulations. Inspite of the lower margins, it is confident of the business for remaining part of the financial year based on the order book and earnings outlook.

The company expects a growth of over 25% in the earnings for 2020-21, a release said.

In terms of revenue split, the company said active pharmaceutical ingredients (API) segment contributed to ₹143.92 crore, while the share of formulations (domestic market) was ₹125.62 crore and formulations (export, including profit share and foreign subsidiaries) was ₹274.23 crore. Other operating income was ₹18.35 crore and other income ₹19.95 crore.

Interim dividend

The company has declared an interim dividend of ₹1.25 per share of Rs.2 each for 2020-21. The date for taking a record of its shareholders eligible for the purpose of payment of interim dividend is fixed for August 24.

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Printable version | Oct 29, 2020 2:29:43 PM | https://www.thehindu.com/business/natco-pharma-net-declines-145/article32337993.ece

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