Hyderabad-based Natco Pharma Limited has reported a 26.72 per cent decline in consolidated net profit to Rs 159.3 crore for the quarter ended December 2018, owing to flattish revenues and fall in margins.
The company's consolidated revenues grew by little over one per cent to Rs 580 crore for the quarter under review, as compared to Rs 573.6 crore for the same quarter in the previous financial year and marginally lower on a sequential basis. However, the total expenditure rose 26 per cent to Rs 375.3 crore, from Rs 297.2 crore in the year-ago period.
The company attributed the decline in profits during the quarter predominantly to margin reduction of Oseltamivir in the US market. Formulations exports, including profit share, contributed Rs 257 crore to the total revenues, according to the company. The board of directors recommended an interim dividend of Rs 3.50 per equity share of Rs 2 each.
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