Natco Pharma shares drop 3%

New Delhi: Shares of Natco Pharma on Wednesday dropped over 3 per cent after the company reported 35 per cent decline in consolidated net profit for the quarter ended September 30, 2019.

The scrip fell 3.39 per cent to close at Rs 560.80 on the BSE. During the day, it tumbled 6.71 per cent to Rs 541.50. On the NSE, it declined 3.20 per cent to close at Rs 560.05.

Natco Pharma on Tuesday reported 35 per cent decline in consolidated net profit at Rs 117.7 crore for the quarter ended September 30, 2019.

The Hyderabad-based company had posted a profit of Rs 181.1 crore in the year-ago period. Total income stood at Rs 518.9 crore for the quarter under review as against Rs 583.5 crore in the year-ago period, a decline of 11 per cent, Natco Pharma said in a BSE filing.