Natco Pharma net profit decline 9% in September quarter
1 min read . Updated: 13 Nov 2015, 09:48 PM ISTSales of active pharmaceutical ingredients, the key raw materials that go into the manufacture of drugs, declined 30% to `52 crore
Hyderabad: Natco Pharma Ltd on Friday posted a 9% fall in net profit in the quarter ended 30 September due to declining sales of active pharmaceutical ingredients.
The company reported a net profit of ₹ 29.6 crore in the three months compared with ₹ 32.4 crore in the year-ago period. Sales rose 7.2% to ₹ 235 crore.
Sales of generic drugs, which contribute about three-fourths of sales, grew 34% to ₹ 159 crore from ₹ 119 crore in the year-ago period. Sales of active pharmaceutical ingredients, the key raw materials that go into the manufacture of drugs, declined 30% to ₹ 52 crore.
Its operating profit margin declined 252 basis points year-on-year to 24.9% against ICICIdirect estimate of 26%, mainly on account of an increase in employee expenses, ICICIdirect said.
One basis point is one-hundredth of a percentage point.
