Its profit came in at ₹206.5 crore in the first quarter, down 57% from the previous year’s ₹480.7 crore.
its revenue declined 44.7% to ₹735.2 crore from ₹1,328.9 crore in the June quarter last year.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) declined 67.3% in the first quarter to ₹186.5 crore from ₹571 crore in the prior fiscal.
Its margins also contracted sharply to 25.4% from 43% in the year-ago period.
Natco Pharma’s board of directors also approved the fund raise of up to ₹2,000 crore via issuance of shares, securities.
Shares of Natco Pharma were down 6.4% at ₹890.65 apiece at 2.20 pm on Friday. The stock has fallen 8% in the past month but is up 0.5% this year, so far.
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