Natco Pharma declined 1.14% to Rs 1,068.85 after the drug maker posted a 43% decline in consolidated net profit to Rs 53 crore on a 27.15% fall in revenue from operations to Rs 331.3 crore in Q4 FY21 over Q4 FY20.
The company's profit before tax slipped 39.4% to Rs 70.7 crore in Q4 FY21 from Rs 116.7 crore posted in Q4 FY20. The announcement was made after market hours yesterday, 17 June 2021.
Natco Pharma said that in spite of significant negative impact of the pandemic on the base business, the company was able to sustain its revenue during the year. The company expects strong growth during the current year due to multiple high value product launches in the USA, rebound in domestic India business with new products and contribution from crop health division.
The company recorded consolidated total revenue of Rs 2155.7 crore for the year ended on 31 March 2021, as against Rs 2022.4 crore for the last year, reflecting a revenue growth of 6.6 %, year-over-year. The net profit for the period, on a consolidated basis, came at Rs 442.4 crore, as against Rs 458.1 crore last year, showing a slight decline of 3.4%.
Natco Pharma manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets.
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