Natco Pharma shares gain 2 pc on profit jump

Shares of Natco Pharma gained more than 2 per cent today after the company reported over twofold jump in consolidated net profit for the March quarter.
The stock ended the day 2.02 per cent higher at Rs 2,341.70 on the BSE. Intra-day, it rose by 4.15 per cent to Rs 2,390.70.
At the NSE, it settled at Rs 2,335.70, up 2.36 per cent from its previous close.
Natco Pharma on Friday reported over twofold jump in consolidated net profit at Rs 54.44 crore for the quarter ended March 31 mainly on account of a deferred tax reversal.
It had posted a net profit of Rs 24.02 crore in the year ago period, Natco Pharma had said in a filing to the BSE.

Total income from operations rose to Rs 200.80 crore during the quarter as against Rs 183.80 crore for same period a year ago.
The company had a reversal of deferred tax liability of Rs 31.17 crore during the quarter.
For 2014-15 fiscal, the company posted a net profit of Rs 134.61 crore against Rs 102.74 crore in the previous year.