Natco Pharma Q1 net down 21% to Rs 143 crores

Hyderabad: Drug firm Natco Pharma on Friday reported a 21.14 per cent decline in its consolidated net profit at Rs 142.8 crore for the quarter ended June 30, 2019.

The company had posted a net profit of Rs 181.1 crore in the corresponding period of the previous fiscal, Natco Pharma said in a BSE filing.

Consolidated total revenue of the company stood at Rs 513.3 crore for the quarter under consideration as against Rs 574.5 crore for the same period last year, it added.

"Despite this periodic decline in profitability, the company remains confident on its outlook for the year and beyond," Natco Pharma said.

The board of directors has recommended an interim dividend of Rs 1.25 per equity share of Rs 2 each, for the financial year 2019-20, it added.

Shares of Natco Pharma were trading at Rs 540.60 per scrip on BSE, down 2.18 per cent from its previous close.