Natco Pharma net dips 43% to Rs 53 crore in Q4

#Natco Pharma, #Results

Drug firm Natco Pharma on June 17 said its consolidated net profit declined by 43 percent 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.

“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.

Shares of the company ended 4.43 percent down at Rs 1,081.15 apiece on BSE on Thursday.

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