Natco Pharma Q3 Profit Falls 38% to Rs132 Cr Amid Formulation Export Slump
Natco reported consolidated revenue of Rs 474.8 crore for the quarter, down from Rs 758.6 crore a year ago.
New Delhi: NATCO Pharma Ltd on Wednesday reported a 37.75 per cent decline in consolidated net profit to Rs 132.4 crore in the December quarter, hit by a drop in formulations exports,
The company had posted a consolidated net profit of Rs 212.7 crore in the third quarter of the previous fiscal year, NATCO Pharma said in a regulatory filing.
Consolidated revenue from operations in the quarter under review stood at Rs 474.8 crore as compared to Rs 758.6 crore in the same period a year ago, it added.
Total expenses in the third quarter were lower at Rs 487.4 crore as compared to Rs 539.3 crore in the year-ago period, the company said.
Formulation exports in the third quarter were lower at Rs 285.8 crore as compared to Rs 605.6 crore in the same period of the last fiscal year. Formulation sales in the domestic market stood at Rs 96.1 crore, down from Rs 99.4 crore in the year-ago period, NATCO Pharma said in an investor presentation.
On the other hand, API (active pharmaceutical ingredient) revenue stood at Rs 66.6 crore, up from Rs 46.3 crore in the corresponding quarter last fiscal year, it added.
The board of directors at their meeting held on Wednesday declared a third interim dividend of Rs 1.50 each per equity share of Rs 2 each for the financial year 2024-25, the company said.
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