NATCO Pharma Shares Plunge 20% After Q3 Earnings Miss

New Delhi, Feb 13 (PTI) Shares of NATCO Pharma Ltd on Thursday slumped 20 per cent after the firm reported a 37.75 per cent decline in consolidated net profit in the December quarter.

The stock tanked 19.86 per cent to Rs 975 on the BSE.

At the NSE, it cracked 19.99 per cent to Rs 975.05.

NATCO Pharma Ltd on Wednesday reported a 37.75 per cent decline in consolidated net profit to Rs 132.4 crore in the December quarter, hit by a drop in formulations exports.

The company had posted a consolidated net profit of Rs 212.7 crore in the third quarter of the previous fiscal year, NATCO Pharma said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 474.8 crore as compared to Rs 758.6 crore in the same period a year ago, it added.

Formulation exports in the third quarter were lower at Rs 285.8 crore as compared to Rs 605.6 crore in the same period of the last fiscal year. Formulation sales in the domestic market stood at Rs 96.1 crore, down from Rs 99.4 crore in the year-ago period, NATCO Pharma said in an investor presentation.