Drug firm Natco Pharma on Thursday reported a 39.27 percent decline in its consolidated net profit to Rs 63.4 crore for the quarter ended in December. The company had posted a net profit of Rs 104.4 crore for the corresponding period of the previous fiscal, Natco Pharma said in a BSE filing.
The consolidated total income of the company stood at Rs 386 crore for the quarter under consideration. It was Rs 513 crore for the same period a year ago, it added. The decline in revenue and profits was due to lower domestic oncology sales and weak realisation of profits from oseltamivir products in the US, Natco Pharma said.
The board of directors has recommended a third interim dividend of Re 1 per equity share of Rs 2 each, it added. Shares of Natco Pharma closed at Rs 884.55 on the BSE, down 0.22 percent from its previous close.