Natco Pharma Stock Price: On February 13, Natco Pharma shares fell nearly 20 percent and the price touched a low of Rs 975 on BSE. The lower circuit is at Rs 973.35. The stock is facing heavy selling as the company's profit declined nearly 38 percent year-on-year in the October-December 2024 quarter. The company's net consolidated profit during the quarter stood at Rs 132.4 crore. It was Rs 212.7 crore a year ago.
On a consolidated basis, the company's revenue from operations declined by 37.4 percent to Rs 474.8 crore as compared to a year ago. Revenue was Rs 758.6 crore in the December 2023 quarter. Expenses declined to Rs 487.4 crore from Rs 539.3 crore a year ago.
Natco Pharma fell 25 percent in a week
After the latest selling, the market cap of Natco Pharma has come down to Rs 17,600 crore. The company's stock has seen a rise of 16 percent in the last one year. At the same time, the stock has come down by 25 percent in just one week. The promoters held 49.62 percent stake in the company till the end of December 2024.
Even the declaration of dividend could not stop the selling
According to the information given to the stock markets, the board of Natco Pharma has declared a third interim dividend of Rs 1.50 per share for the financial year 2024-25. The record date for this has been fixed as February 18, 2025. Shareholders whose names are in the records of the Register of Members of the Company or Depositories as beneficial owners of shares till this date will be entitled to receive dividend. Payment of dividend will start from February 28, 2025. The face value of Natco Pharma shares is Rs 2.
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 is effective from February 12, 2025. Bhat has resigned to explore new opportunities outside the company.
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