Natco Pharma ends over 15% higher as the company ups profit guidance
Natco Pharma share price: At close, shares of Natco Pharma stood at Rs 1,027 apiece, up 15.8 per cent, or Rs 1,40.15.
Natco Pharma share price: Shares of Natco Pharma zoomed as much as 18.39 per cent in Friday's trade (February 16) and clocked their 52-week high of Rs 1,050 apiece on the BSE. The stock rose for the third session in a row. The stock today saw a steep surge after the company raised its profit after tax guidance (PAT).
At close, shares of Natco Pharma stood at Rs 1,027 apiece, up 15.8 per cent, or Rs 1,40.15. Meanwhile, its market capitalisation stood at Rs 18,394.58 crore at around the same time.
As per reports, in a post-earnings conference call, the company's management raised its guidance for profit after tax (PAT) above Rs 1,200 crore from Rs 1,000–1,200 crore earlier.
How did Natco Pharma fare in Q3?
Natco Pharma Ltd. reported on Wednesday a more than three-fold rise in consolidated net profit at Rs 212.7 crore for the third quarter that ended December 31, 2023, on the back of robust revenue growth.
Consolidated revenue from operations in the quarter under review stood at Rs 758.6 crore, as against Rs 492.5 crore logged in the year-ago period, it added.
Total expenses were higher at Rs 539.3 crore, up from Rs 431.9 crore registered in the same quarter last fiscal, the company said.
There was strong growth across businesses compared to last year, Natco said, adding that it was confident in its strategy going forward.
Revenue from the export of formulations was at Rs 605.6 crore in the third quarter, up from Rs 333.7 crore in the year-ago period.
However, domestic formulations revenue was down at Rs 99.4 crore, as compared to Rs 101.1 crore in the corresponding period last fiscal, it said.
Natco Pharma share price: Past performance
In a year, shares of Natco Pharma have gained over 89 per cent against the Nifty50's rise of over 22 per cent.
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