Companies

Natco Pharma Q1 net down 14.5% at ₹122 cr

PTI | Updated on August 12, 2020 Published on August 12, 2020

Natco Pharma Limited’s consolidated net profit for the quarter ended June 30, 2020 slid by 14.5 per cent to ₹122.1 crore against ₹142.8 crore during the corresponding quarter last fiscal, the company said on Wednesday.

The city-based drug maker has recorded consolidated total revenue of ₹582.1 crore for the first quarter as against ₹513.3 crore for the same period a year ago, reflecting an increase of 13.4 per cent.

The Increase in revenue was driven primarily by exports formulations business. During the quarter, the company faced margins pressure on both domestic and international formulations.

“In spite of lower margins during the first quarter, the company is confident of its business for the remaining part of the financial year based on the order book and earnings outlook,” Natco said.

The company expects a growth of over 25 per cent in its earnings for FY2020-21 compared to the last fiscal.

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Published on August 12, 2020
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