Drugmaker Natco Pharma reported consolidated net profit declined more than 68% to ₹65.1 crore for the September quarter.
The lower profit, compared with ₹203.90 crore in the year-earlier period, came on the back of total revenue declining nearly 50% to ₹415.2 crore (₹827.90 crore). The decline, in revenue and profit, is primarily due to a one-off contribution in prior period earnings, the company said in a release on Thursday.
The drugmaker has announced a second interim dividend of ₹0.5 per equity share of ₹2 each for FY21-22.
Natco Pharma said it was poised for growth and confident of a strong rebound in business during latter half of the fiscal. In the second quarter, it had introduced Lenalidomide product in Canada and Everolimus higher strength product in U.S.
Revenues from these products, used in the treatment of cancer, will be realised in immediate quarters. The company said it was well-prepared for a major launch of Lenalidomide in the U.S. during the fourth quarter.
