New Delhi, Nov 11 (PTI) Natco Pharma on Thursday reported a 68 per cent dip in its consolidated net profit to Rs 65.1 crore for the second quarter ended September 30.

The Hyderabad-based firm had posted a consolidated net profit of Rs 203.9 crore in the July-September quarter of the previous fiscal.

Also Read | Oppo A55s Specifications Leaked on Geekbench, Launch Expected Soon.

Consolidated total revenue stood at Rs 415.2 crore for the second quarter against Rs 827.9 crore in the year-ago period, Natco Pharma said in a regulatory filing.

"The decline in revenue and profits compared to last year's quarter is primarily due to a one-off contribution in prior period earnings," it added.

Also Read | Apple Supplier Foxconn Acquires Lordstown Motors Vehicle Factory for $230 Million.

The company is poised for growth during the latter half of this financial year and confident of a strong rebound in business, the drug firm stated.

It noted that during the period under review, Lenalidomide and Everolimus were introduced in Canada and US, respectively.

"The revenues from these products will be realised in immediate quarters. The company is well prepared for its major launch of Lenalidomide in the US during Q4 of this financial year," it added.

The company said its board has recommended a second interim dividend of Rs 0.5 per equity share of Rs 2 each for FY 2021-22.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)