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.
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