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Natco Pharma net profit declines 43 percent to Rs 53 crore in Q4
New Delhi: Drug firm Natco Pharma on Thursday said its consolidated net profit declined by 43 per cent to Rs 53 crore for the fourth quarter ended March 31, 2021.
The Hyderabad-based company had posted a net profit of Rs 93 crore for the January-March quarter of 2019-20 fiscal.
Total income during the fourth quarter stood at Rs 360 crore, down from Rs 477 crore in the fourth quarter of the financial year 2019-20, the drugmaker said in a regulatory filing.
For the entire 2020-21 fiscal, the company posted a consolidated net profit of Rs 442 crore as compared with Rs 458 crore in 2019-20.
Total income increased to Rs 2,156 crore in the last fiscal from Rs 2,022 crore in the financial year 2019-20.
Read also: Natco Pharma marketing partner gets USFDA approval for Everolimus tablets
"In spite of the significant negative impact of the pandemic on the base business, the company was able to sustain its revenue during the year," the drug firm noted.
The company expects strong growth during the current financial year due to multiple high-value product launches in the US, rebound in domestic India business with new products, and contribution from the Crop Health division, it added.
Read also: Natco Pharma marketing partner gets USFDA nod for Carfilzomib Vials ANDA
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751