Mid Cap Pharma Stock Falls 3.63% Despite 6-Fold Rise In Net, Dividend Declaration

Mid cap pharmaceuticals company Natco Pharma Ltd shares declined 3.63% in trade today despite reporting six-fold rise in its consolidated net profit to Rs 369 crore for the quarter ended September 30, 2023 as against Rs 57 crore reported in the corresponding period of last fiscal.

Natco Pharma Declares Interim Dividend: According to the BSE filing of the company issued on November 14, 2023, "The Board of Directors of the Company at their meeting held today have Declared second interim dividend of Rs.1.25/- (Rupees one and paise twenty five only) (62 .50%) each per equity share of Rs.2/- (Rupees two only) each for the financial year 2023-24. The date for taking on record of its shareholders eligible for the purpose of payment of second interim dividend i.e., record date is fixed as Friday, the 24th day of November, 2023. The payment of said interim dividend will start from 1st December, 2023."

Natco Pharma Q2 Result: The company announced its total revenue at Rs 1061 crore for the quarter ended September 30, 2023 as against Rs 453 crore declared in the corresponding period of last year, according to its regulatory filing. It announced strong performance during the quarter due to growth in formulation exports and increased sales in the domestic agrochemical business, it added.

Natco Pharma Stock Performance & Return: Current market price of Natco Pharma share on BSE is Rs 765.30 per share with intraday fall of 3.59%. The stock's 52-week high price is Rs 928.45 per share and 52-week low price is Rs 502.00 per share, respectively. The company has a market capitalisation of Rs 13,701.91 crore.
Natco Pharma shares fell 10% in last 1-month, soared 21% in last 6-months, surged 38% year-to-date, rose 31% in last 1-year, and fell 9% in last 2-years. In last 3-years, Natco Pharma shares fell 15% and offered return of 6% in last 5-years.

Natco Pharma About: Natco Pharma Limited is a vertically integrated and R&D focused pharmaceutical company engaged in developing, manufacturing and marketing of finished dosage formulations ("FDF") and active pharmaceutical ingredients ("APIs"). Our focus is primarily on niche therapeutic areas and complex products, according to its official website.

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