Natco Pharma declines after Q2 FY22 PAT skids 68% to Rs 65 cr

Natco Pharma fell 2.09% to Rs 805.70 after the company's consolidated net profit tumbled 68.1% to Rs 65.10 crore on a 53% drop in net sales to Rs 377.20 crore in Q2 September 2021 over Q2 September 2020.

The decline in revenue and profits as compared to last year quarter was primarily due to a one-off contribution in prior period earnings. As per its press statement, the Hyderabad-based company is poised for growth during latter half of this financial year and confident of a strong rebound in business. During the quarter, Lenalidomide product in Canada and Everolimus higher strength product in USA were launched. The revenues from these products will be realized in immediate quarters. The company is well prepared for its major launch of Lenalidomide in USA during Q4 of this financial year.

On a segmental revenue basis, the revenue split of Natco Pharma during Q2 FY22, were as follows: Active Pharmaceutical Ingredients (APIs) (Rs 76.30 crore); Formulations, Domestic (Rs 99.80 crore); Formulations, Export (Rs 190.5 crore); Other operating income & non-operating income (Rs 45.10 crore) and Crop Health Sciences (CHS) (Rs 3.50 crore).

Meanwhile, the board declared a second interim dividend of Rs 0.50 (25%) each per equity share of Rs 2 each for the FY 2021-22. The date for taking on record of its shareholders eligible for the purpose of payment of second interim dividend i.e., record date is fixed as the 24 day of November 2021. The payment of interim dividend will be paid from 1 December 2021.

Natco Pharma manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets.

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