Shares of Natco Pharma Ltd. declined after the company reported a 13% fall in its second-quarter net profit, falling short of the consensus estimates by analysts.
The stock fell as much as 4.87% intraday on Thursday, the most since Sept. 16. However, it gained 3.33% as of 2.32 p.m. The total traded quantity stood at 2.6 times the 30-day average.
According to Bloomberg data, of the 16 analysts tracking the company, seven maintain a 'buy', seven recommend a 'hold,' and two suggest a 'sell'. The return potential of the stock is 27.5%.
Natco Pharma Q2 FY23 Highlights (Consolidated, YoY)
Revenue rose 15% to Rs 432 crore, as against Rs 377 crore in the previous year. Analysts had estimated it at Rs 658 crore.
Net profit dropped 13% to Rs 57 crore, compared to Rs 65 crore over the same period last year. Analysts had estimated it at Rs 163 crore.
Ebitda is up 35% to Rs 95 crore from Rs 71 crore in the previous year, and compared to analyst estimates of Rs 216 crore.
Margins rose to 22.1 from 18.7% in the previous year. Analysts had estimated it at 32.8%.
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