Declined by 43 per cent to ₹53 crores for the fourth quarter that ended March 31st 2021, the drug firm Natco Pharma said on June 17 that it’s consolidated that net profits have come down.
For the January-March quarter of 2019-20 fiscal, the Hyderabad-based company had posted a net profit of ₹93 crores, while down from ₹477 crores in the fourth quarter of the financial year 2019-20, the total income during the fourth quarter stood at ₹360 crores, as said by the drug maker in a regulatory filing.
A consolidated net profit of ₹442 crores was posted by the company for the entire 2020-21 fiscal as compared with ₹458 crores in 2019-20. From ₹2022 crore in the financial year 2019-20, the total income increased to ₹2,156 crores in the previous fiscal.
Due to multiple high-value product launches in the US, strong growth is expected by the company during the current financial year along with a rebound in domestic India business with new products and contribution from the Crop Health division as noted by the drug firm. The company was able to sustain its revenue during the year despite the significant negative impact of the pandemic on the base business, it added.
On Thursday, the shares of the company ended with 4.43 per cent down at ₹1,081.51 per piece on the Bombay Stock Exchange (BSE).
