Natco Pharma Shares Soar To Three-Month High As Q4 Profit Beats Estimates
The stock rose as much as 6.86% during the day to Rs 1,100 apiece on the NSE.
Shares of Natco Pharma Ltd. jumped nearly 7% on Tuesday to the highest level in over three months after the company reported a higher-than-expected consolidated net profit and revenue in the fourth quarter of financial year 2024.
Natco Q4 FY24 Earnings Highlights (Consolidated, YoY)
Revenue up 19% to Rs 1,068 crore versus Rs 898 crore (Bloomberg estimate: Rs 952 crore).
Ebitda up 47% to Rs 497 crore versus Rs 339 crore.
Margin at 46.6% vs 37.8%.
Net profit up 40% to Rs 386 crore versus Rs 276 crore (Estimate: Rs 338 crore).
On the NSE, Natco's stock rose as much as 6.86% during the day to Rs 1,100 apiece, the highest since Feb. 19. It was trading 4.3% higher at Rs 1,073.20 per share, compared to a 0.13% advance in the benchmark Nifty at 9:45 a.m.
The share price has risen 32.27% on a year-to-date basis and 73.55% in the last 12 months. The total traded volume on the NSE so far in the day stood at 3.92 times its 30-day average. The relative strength index was at 71.44, indicating that the stock may be overbought.
Out of the 14 analysts tracking the company, nine have a 'buy' rating on the stock, three recommend 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 6.5%.
