Natco Pharma Q1 net slips on degrowth in sales
The Hindu
The pandemic continues to impact revenues, but there is recovery compared to quarter ended March
Drugmaker Natco Pharma reported first quarter consolidated net profit fell 39% to ₹75 crore compared with ₹122.10 crore of the year earlier period on the back of lower sales. Total income at ₹427.30 crore (₹582.10 crore) was 27% lower. Degrowth in sales can be partially attributed to higher proportion of initial phase of pandemic exports to the U.S. of Chloroquine Phosphate tablets and Oseltamivir Phosphate capsules in the revenues for quarter ended June 2020, the company said. The pandemic continues to impact revenues, but there is recovery compared to quarter ended March, the Hyderabad-based firm said. It said strong product launches have been lined up for both export and India markets during the current fiscal and the company is expected to register a good growth.
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