Companies

Natco Pharma Q4 net down 22.5% at ₹93 cr

Our Bureau Hyderabad | Updated on June 17, 2020 Published on June 17, 2020

Natco Pharma Ltd’s consolidated net profit declined 22.5 per cent to ₹93 crore in the fourth quarter ended March 31, against ₹120 crore profit recorded in the corresponding quarter last year.

The total revenue of the Hyderabad-based company was marginally down at ₹477 crore (₹487 crore).

For the full year ended March 31, the drug maker posted 9 per cent decline in revenue at ₹2,022 crore against ₹2,225 crore in previous fiscal. The net profit for the period declined 29 per cent to ₹458 crore (₹642 crore).

“The overall decline in revenue and profits, from the prior year, was primarily due to continued decline in Hepatitis C product portfolio and to an extent in oncology segment due to pricing pressures,’’ the company said in a release.

The company also faced slowdown in business operations during the fourth quarter due to supply chain issues amidst Covid-19 concerns, which were subsequently resolved, it added.

The board of directors recommended a fourth interim dividend of ₹1.00 per equity share of ₹2 each, resulting in a total dividend payout of ₹6.75 per equity share for the year.

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Published on June 17, 2020
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