Shares of Tarsons Products Ltd. tumbled the most since debut after its first-quarter profit dropped and margin contracted.
The company reported a net profit of Rs 20.3 crore in the quarter ended June, down 18% year-on-year.
Key Highlights (YoY)
Revenue down 0.8% to Rs 68.6 crore.
Ebitda down 15.5% to Rs 31.1 crore.
Ebitda margin contracted to 45.4% from 53.4%.
Ebitda margin in Q1 were impacted on account of "higher expenses due to traveling and participation in fare and exhibitions and higher investments in manpower to support growth," the company said.
Shares of the company fell as much as 20%, the most since Nov. 26, before closing 9.7% lower on Monday. The stock is also the worst performer on the S&P BSE IPO and S&P BSE Healthcare indices.
All the three analysts tracking the company reiterated a 'buy'. The 12-month consensus price target implies an upside of 17.5%.
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