On a consolidated basis, Natco Pharma's net profit dropped 39% to Rs 75 crore on 27.17% fall in revenue from operations to Rs 410.30 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).
Consolidated profit before tax skid 42.44% to Rs 91 crore in Q1 FY22 as against Rs 158.10 crore in Q1 FY21. The Q1 result was declared during market hours today, 12 August 2021.
The de-growth in sales was partially attributed to the higher proportion of initial phase of pandemic exports to USA in Chloroquine Phosphate tablets and Oseltamivir Phosphate capsules in the revenues for the quarter ended, 30 June 2020. The pandemic continued to impact the revenues of the company but recovered compared to quarter ending March 2021.
Natco Pharma had strong product launches both in export markets and domestic India business during the current financial year and expects to have good growth. During the quarter, segmental revenues from API stood at Rs 61.60 crore, Domestic formulations at Rs 200.60 crore, Exports formulations at Rs 145.40 crore, Crop Health Sciences (CHS) at Rs 0.50 crore and Other operating income & non-operating income at Rs 19.20 crore.
The board declared an interim dividend of Rs 2 per share for the financial year 2021-22. The record date is fixed on 25 August 2021.
Also Read
Natco Pharma manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets.
Shares of Natco Pharma rose 3.30% to Rs 1,042.20 on BSE. The stock has traded in the range of Rs 995 to Rs 1,048 so far.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
