Natco Pharma shares crash after weak results, investors rush to sell stock
Natco Pharma Shares: Natco Pharma shares have been witnessing a continuous decline for quite some time. It has given a negative return of about 33% in the last 6 months. However, in the last year, investors have earned a profit of 15% from it. Its market cap has come down to Rs 17.7 thousand crores. Its one-year high level is Rs 1639.00. At the same time, the one-year low level is Rs 829.60.
Natco Pharma Limited's share fell 20% on Thursday after the company's consolidated net profit fell 37.75% in the quarter ending in December. The share fell 19.86% to Rs 975 on the BSE. The share fell 19.99% to Rs 975.05 on the NSE. The troubles of pharma companies are said to be increasing.
Natco Pharma Limited released its results for the quarter on Wednesday and said that consolidated net profit fell 37.75% to Rs 132.4 crore in the December quarter. The reason was a decline in exports of formulations. Natco Pharma in a regulatory filing said that the company's net profit in the third quarter of the previous financial year was Rs 212.7 crore.
Consolidated revenue from operations stood at Rs 474.8 crore in the quarter under review. It was Rs 758.6 crore in the same period a year ago. Formulation exports in the third quarter declined to Rs 285.8 crore as compared to Rs 605.6 crore in the same period a year ago. Natco Pharma said that formulation sales in the domestic market stood at Rs 96.1 crore as against Rs 99.4 crore in the same period a year ago.
Natco Pharma shares have been witnessing a continuous decline for quite some time now. It has given a negative return of about 33 percent in the last 6 months. However, in the last year, investors have earned a profit of 15 percent from it. Its market cap has come down to Rs 17.7 thousand crores. Its one-year high level is Rs 1,639.00. At the same time, the one-year low level is Rs 829.60.
The company has also informed the stock markets that Dr. Navan Ganpati Bhat, Director and Executive Vice President (Technical Operations) of Natco Pharma, has resigned. This resignation will be effective from 12 February 2025. Bhat has resigned to explore new opportunities outside the company.
Natco Pharma is a Hyderabad-headquartered multinational pharma company. The company manufactures ready-to-dose formulations, active pharmaceutical ingredients, and agrochemical products. It is a leading producer of branded oncology drugs, cardiology, diabetes, and other pharma specialty drugs.
