Natco Pharma Q1 profit down 57% to ₹206cr on lenalidomide
Business
Natco Pharma just saw its first-quarter profit drop by 57%, landing at ₹206 crore compared to ₹480 crore last year.
Revenue also took a tumble, falling 43% to ₹794 crore.
The main reason? Lower Lenalidomide revenue, though their core business did help soften the blow a bit.
Natco explores ₹2000cr, interim ₹1.50 dividend
To bounce back, Natco's board has approved exploring the possibility of raising up to ₹2,000 crore through new shares or other securities: think public offerings and private placements.
On the plus side for shareholders, they've also announced an interim dividend of ₹1.50 per share, set for payout starting August 26 with August 20 as the record date.