Shares in Sharda Cropchem fell over 4 per cent on Thursday tracking Q2 numbers that were announced after markets closed yesterday.
Sharda Cropchem sales declined 11 per cent year-on-year to Rs 237 crore in the September quarter, while net profit declined 9 per cent to Rs 24 crore.
Sharda Cropchem, which buys agro-chemicals from China and exports it to around 70 countries, said forex fluctuations impacted sales in the second quarter.
"Our volumes have actually grown by 6-8 per cent, but forex fluctuation impacted our revenues by 6 per cent," RV Bubna, chairman and managing director of Sharda Cropchem said. (Watch)
For fiscal year 2015-16, Sharda Cropchem's revenues may remain stagnant near last year levels, though volume growth could be 10-15 per cent, the company said.
Sharda Cropchem, whose IPO was a blockbuster last year, has been a gainful investment. Sharda Cropchem shares are up 70 per cent since September 2014, when they started trading. The stock, however, is trading off the all-time high of Rs 408.80, hit in April 2015.
Sharda Cropchem shares closed 2.19 per cent lower at Rs 263.05 per share compared to 1.05 per cent fall in the broader Nifty.
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