NATCO Pharma's Shares Plummet Amid Massive Profit Decline

NATCO Pharma Ltd's shares dropped by nearly 20% following a reported 37.75% decrease in consolidated net profit for the December quarter. The decline is attributed to falling formulation exports and domestic sales. The company's revenue and profit figures lagged significantly compared to the previous fiscal year.

Shares of NATCO Pharma Ltd took a sharp hit on Thursday, falling by almost 20% after the company disclosed a steep 37.75% decline in its consolidated net profit for the December quarter.

On the BSE, the stock plummeted by 19.86% to Rs 975, while at the NSE, it fell by 19.99% to Rs 975.05, marking one of its worst performances in recent times.

The substantial profit reduction, down to Rs 132.4 crore from Rs 212.7 crore in the same quarter the previous year, was primarily driven by a significant drop in formulation exports, NATCO Pharma reported in an official filing.

(With inputs from agencies.)