Generic drugmaker Natco Pharma reported consolidated net profit for the June quarter declined more than 28% to ₹480.3 crore compared to ₹668.5 crore a year earlier amid pricing pressure in the key U.S. market and higher research and development expenditure.

The lower net profit came on a total revenue that dipped 1.42% to ₹1,390.6 crore (₹1,410.7 crore). During the quarter the business faced pricing pressure in the U.S. product portfolio and the company incurred increased R&D expenses on account of high value projects, Natco Pharma said.

₹2 interim dividend

The company has declared an interim dividend of ₹2 per equity share (of ₹2 each) for the first quarter.

Segmental revenue breakup showed formulations export declined, in the first quarter, to ₹1,126.5 crore (₹1,210.1 crore). Revenue from active pharmaceutical ingredients (API) increased to ₹52.6 crore (₹39.2 crore), while that from domestic formulations to ₹107 crore (₹102.2 crore). Crop Health Sciences revenue increased to ₹34.7 crore (₹15.6 crore).