Natco Pharma’s net profit down 68% at Rs 65 crore in Q2

Hyderabad: Natco Pharma Ltd on Thursday said its consolidated net profit for the quarter ended September 30, 2021, was down by 68.07 per cent to Rs 65.1 crore. It was 203.90 crore in the same period last fiscal.

The city-based company reported Rs 415.2 crore as consolidated revenue during the quarter under discussion against Rs 827.9 crore in the second quarter of 2020-21, Natco said in a press release.

The decline in revenue and profits compared to last year’s quarter is primarily due to a one-off contribution in prior period earnings, it said.

The company is poised for growth during the latter half of this financial year and confident of a strong rebound in business, Natco said.

The Board of Directors has recommended a second interim dividend of Rs 0.5 per equity share of Rs 2 each for FY 2021-22.