Drug firm Natco Pharma on Thursday reported a 38.57 per cent decline in its consolidated net profit at Rs 75 crore for the quarter ended June 2021.
The company had posted a net profit of Rs 122.1 crore for the corresponding period of the previous fiscal, Natco Pharma said in regulatory filing.
Consolidated total income of the company stood at Rs 427.3 crore for the quarter under consideration. It was Rs 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 USA 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 Rs 2 per equity share of Rs 2 each, during the first quarter of FY 2021-22.
Shares of Natco Pharma were trading at Rs 1,021.55 per scrip on the BSE, up 1.25 per cent from their previous close.
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