Natco Pharma dips 12% in two days post Q1 results on profit booking

Thus far in 2017, the stock had gained 65% against 6% fall in healthcare index till Monday.

Natco Pharma dipped 8% to Rs 856, extending Tuesday’s 4% decline on BSE, on profit booking after the company’s net profit nearly doubled at Rs 93.7 crore for the quarter ended June, 2017 (Q1FY18). The company had posted a profit of Rs 47.5 crore in the corresponding period previous year.

The consolidated revenue for the quarter grew 30% to Rs 449 crore as compared to Rs 346 crore in the year ago period.

So far in 2017, the stock of pharmaceutical company had outperformed the market by gaining 65% till Monday. On comparison, the S&P BSE Sensex was