Natco Pharma net falls 39% on lower sales

Natco Pharma reported a more than 39% decline in consolidated net profit to ₹63.40 crore for the quarter ended December, in the face of lower sales and realisation from key products.

Revenue declined almost 25% to ₹386 crore.

The decline in revenue and profits was due to lower sales in domestic oncology and weak realisation of profits from anti-viral oseltamivir (generic of Tamiflu) in the U.S., the company said on Thursday.

The firm declared a third interim dividend of ₹1 per equity share.

In terms of contribution to revenue, share of formulations exports, including profit share and foreign subsidiaries, was the highest at ₹162.1 crore, followed by APIs at ₹97.8 crore and formulations for the domestic market at ₹95.3 crore. Other income of ₹24.9 crore and other operating income of ₹5.9 crore made up the rest of the revenue.

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