Ion Exchange Shares Fall Most In Over Five Months Post Q4 Results

Shares of Ion Exchange (India) Ltd. fell the most in over five months after its net profit declined in the fourth quarter ended March.

The company's net profit declined 2.42% year-on-year to Rs 81.19 crore in the quarter ended March, according to a stock exchange filing.

Ion Exchange (India) Q4 FY23 (Consolidated, YoY)

• Revenue is up 30.45% at Rs 647.48 crore.

• Ebitda is up 11.97% at Rs 106.37 crore.

• Ebitda margins at 16.43% vs. 19.14%.

• Net profit is down 2.42% at Rs 81.19 crore.

• Deferred tax credits declined to Rs 1 lakh from Rs 2.55 in the year-ago period. The board has declared a dividend of Rs 12.50 per share.

Shares of the company declined 6.51% to close at Rs 3,753.7 compared to a 0.54% gain in the benchmark Nifty 50. Intraday, it fell as much as 6.76%, the most since Dec. 16, 2022.

The total traded quantity in the day stood at 2.3 times the 30-day average volume.

The one analyst tracking the stock maintained a 'buy', according to Bloomberg.