NATCO Pharma Tumbles 20%

New Delhi: 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 19.99 per cent to settle at Rs 973.40 on the BSE. Intra-day, it hit the lower circuit limit of Rs 973.35. At the NSE, it cracked 19.99 per cent to Rs 975.05 -- the lower circuit limit.

The company’s market valuation eroded Rs 4,356.85 crore to Rs 17,434.55 crore. In traded volume terms, 3.72 lakh shares of the firm were traded at the BSE and 84.10 lakh shares on the NSE during the day. 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.