Natco Pharma reports 14.5% dip in Q1 net

Hyderabad: Drug firm Natco Pharma on Wednesday reported a 14.49 per centdecline in its consolidated net profit to Rs 122.1 crore for the quarter ended June mainly on account of margin pressure on formulations.

The company had posted a net profit of Rs 142.8 crore for the corresponding period of the previous fiscal, Natco Pharma said.

Total income of the company stood at Rs 582.1 crore for the quarter under consideration as against Rs 513.3 crore for the same period year ago, it added. During the quarter, the company faced margin pressure on both domestic and international formulations, Natco Pharma said.