Comments
Drug firm Natco Pharma on Thursday reported a 38.57 per cent decline in its consolidated net profit at ₹75 crore for the quarter ended June 2021.
The company had posted a net profit of ₹122.1 crore for the corresponding period of the previous fiscal.
Consolidated total income of the company stood at ₹427.3 crore for the quarter under consideration. It was ₹582.1 crore for the same period a year ago, it added.
"The degrowth in sales can be partially attributed to the higher proportion of initial phase of pandemic exports to the US in Chloroquine Phosphate tablets and Oseltamivir Phosphate capsules in the revenues for the quarter ended June 30, 2020," Natco Pharma said.
The company has strong product launches both in export markets and domestic India business during the current financial year and expects to have good growth, it added.
The board of directors has recommended an interim dividend of ₹2 per equity share of ₹2 each, during the first quarter of FY 2021-22.
Shares of Natco Pharma ended at ₹ 1,041.45. up ₹30.90 or 3.06 per cent over its previous close on BSE on Thursday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.