Natco Pharma Limiteds consolidated net profit for the quarter ended June 30 slid by 14.5 percent to Rs 122.1 crore against Rs 142.8 crore during the corresponding quarter last fiscal, the company said on Wednesday.
The city-based drug maker has recorded consolidated total revenue of Rs 582.1 crore for the first quarter as against Rs 513.3 crore for the same period a year ago, reflecting an increase of 13.4 percent, a release said.
The increase in revenue was driven primarily by exports formulations business. During the quarter, the company faced margins pressure on both domestic and international formulations.
"In spite of lower margins during the first quarter, the company is confident of its business for the remaining part of the financial year based on the order book and earnings outlook," Natco said. The company expects a growth of over 25 percent in its earnings for FY2020-21 compared to the last fiscal.
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