Companies

Natco Pharma Q1 net down 21% at Rs 143 cr

Our Bureau Hyderabad | Updated on August 09, 2019 Published on August 09, 2019

Natco Pharma Ltd’s net profit decreased 21 per cent at Rs 143 crore in the first quarter ended June 30, 2019 compared to Rs 181 crore earned in the corresponding quarter of the previous financial year.

The total revenue of the Hyderabad–based company declined 10.65 per cent at Rs 513 crore as against Rs 574 crore in the year ago period. ``The company remains confident on its outlook for the year and beyond,’’ Natco said in a release issued here on Friday.

However, the amount of Rs 47.40 crore received as upside sharing incentive from investor CX Securities is recognised as an increase in equity and not considered as income in Profit & Loss, as per applicable accounting framework. The Board of Directors had recommended an interim dividend of Rs 1.25 per equity share of Rs 2 each.

Natco Pharma’s scrip lost 1.99 per cent on the Bombay Stock Exchange and is trading at Rs 541.65 on Friday shortly before the closure of trading hours.

Published on August 09, 2019
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