Natco Pharma gains after strong Q1 earnings

Natco Pharma rose 0.56% to Rs 629.30 at 12:07 IST on BSE after consolidated net profit rose 69.75% to Rs 47.65 crore on 38.03% rise in net sales to Rs 297.71 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 10 August 2016.

Meanwhile, the BSE Sensex was down 207.50 points, or 0.74%, to 27,877.66.

On BSE, so far 50,000 shares were traded in the counter, compared with average daily volume of 66,965 shares in the past one quarter. The stock rose 3.39% at the day's high of Rs 647 so far during the day. The stock rose 0.27% at the day's low of Rs 627.50 so far during the day. The stock hit a record high of Rs 650.90 on 4 August 2016. The stock hit a 52-week low of Rs 382.20 on 24 August 2015. The stock had outperformed the market over the past 30 days till 9 August 2016, rising 3.55% compared with 1.66% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.34% as against Sensex's 9.72% rise.

The large-cap company has equity capital of Rs 34.83 crore. Face value per share is Rs 2.

Natco Pharma said that the growth in earnings was predominantly driven by increased sales of its oncology and hepatitis C products in India.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

Powered by Capital Market - Live News