$NATCOPHARM

Natco Pharma shares tumbled as much as 12 percent on Friday after the pharmaceutical company reported a disappointing performance for the March quarter, with profit and revenue witnessing sharp declines. The stock dropped to an intraday low of Rs 1,018 on the National Stock Exchange representing a fall of 13.4 percent from its previous close. The weakness extended losses for a second consecutive trading session. Later in the day, the stock recovered slightly to trade at Rs 1,023.70, still down 12.94 percent. For the fourth quarter, Natco Pharma posted a consolidated net profit of Rs 268 crore, down 34 percent from Rs 406.6 crore reported in the corresponding quarter of the previous year. Revenue from operations also declined significantly, falling 39.5 percent year-on-year to Rs 739 crore from Rs 1,221 crore in the March quarter last year. Operating performance remained under pressure, with earnings before interest, tax, depreciation and amortisation (EBITDA) plunging 77 percent to Rs 127.5 crore, compared with Rs 548 crore a year earlier.