Natco Pharma Q3 net profit falls 27 pc to Rs 159.3 cr

Drug firm Natco Pharma Tuesday reported a 26.72 per cent fall in its consolidated net profit to Rs 159.3 crore for the quarter ended December 31, 2018, mainly on account of margin reduction of Oseltamivir in the US market. The company had posted a net profit of Rs 217.4 crore for the corresponding period of the previous fiscal, Natco Pharma said in a filing to BSE.

Consolidated total revenue of the company stood at Rs 580 crore for the quarter under consideration as against Rs 573.6 crore for the same period a year ago. "The decline in profits during the quarter compared to last year was predominantly due to margin reduction of Oseltamivir in the USA market," Natco Pharma said.

The company said its board has recommended an interim dividend of Rs 3.50 per equity share of Rs 2 each. Shares of Natco Pharma closed at Rs 666.15 per scrip on BSE, down 0.82 per cent from its previous close.