Shares of Alkyl Amines Chemicals Ltd. declined over 5% on Thursday after the company reported a nearly 21% decline in its fourth-quarter net profit.
The specialty-chemical manufacturer's net profit declined 20.94% year-on-year to Rs 38.45 crore in the January-March quarter of FY24, according to an exchange filing.
Alkyl Amines Chemicals Q4 FY24 Results Highlights (YoY)
Revenue falls 13.54% to Rs 356.6 crore.
Ebitda falls 11.23% to Rs 68.94 crore.
Margin rises 49 bps to 19.33%.
Net profit falls 20.94% to Rs 38.45 crore.
Shares of the company declined 5.60% intraday, the lowest level since May 8. They pared loss to trade 4.42% lower at 1:32 p.m., compared to a 1.12% decline in the NSE Nifty 50.
The stock has declined 20.87% in 12 months and 20.83% year-to-date. The total traded volume so far in the day stood at 1.2 times its 30-day average. The relative strength index was at 45.40.
Of the four analysts tracking the company, two maintain a 'buy' rating, one recommends a 'hold,' and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' price target implies an upside of 11.00%.
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