Natco Pharma shares tank over 16% after both revenue and net profit falls over 37%
Natco Pharma Ltd shares tanked during the early trading session on Thursday, February 13, 2025, after it announced weak third quarter financial results.
Natco Pharma Ltd. shares tanked during the early trading session on Thursday, February 13, after it announced weak third-quarter financial results.
At 9:50am, the company's shares had fallen by 16.14% on the Bombay Stock Exchange (BSE), reaching ₹1,020.30. This was a drop of ₹196.35.
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The company posted its third-quarter earnings after market hours on Wednesday, February 12, 2025.
Its consolidated revenue from operations fell 37.41% to ₹474.8 crore from ₹758.6 crore during the third quarter of the previous financial year. This was a drop of ₹283.8 crore.
Meanwhile, its net profit fell 37.75% to ₹132.4 crore from ₹212.7 crore previously. This was a drop of ₹80.3 crore.
Natco also announced that its Director and Executive Vice President (Technical Operations) Dr. Pavan Bhat, was resigning to “pursue a new career opportunity outside NATCO.”
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The company also had announced an interim dividend of ₹1.50 per equity share of ₹2 each. The record date is on February 18, 2025 and the payment will start from February 28.
However, the Nifty Pharma Index, which Natco is part of, was also the index that rose the most among all the sectoral indices, by 1.73%, reaching 21,507.05.
Natco was at the bottom of the index and was one of just two stocks in the index that was in the red. The other one was Gland Pharma Ltd which had its shares drop 0.09%, reaching ₹1,477.45.
The Nifty Healthcare Index also rose 1.73%, reaching 13,722.
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This was part of the general rally the stock market saw today. The benchmark BSE Sensex was up by 271.40 points or 0.36%, reaching 76,442.48, while the broader NSE Nifty was up by 86.25 points or 0.37%, reaching 23,131.50.