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Tatva Chintan Pharma Shares Fall After Q4 Profit Declines

Net profit of the company plunged 66.61% over a year earlier to Rs Rs 11.4 crore in Q4.

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Shares of Tatva Chintan Pharma Chem Ltd. fell after its fourth-quarter profit tumbled.

The net profit of the maker of specialty chemicals plunged 66.61% over a year earlier to Rs 11.4 crore in the three months ended March, according to its filing.

The company attributed the decline to a change in product needs across business segments.

  • Q4 revenue rose 26% year-on-year to Rs 124.5 crore.

  • Revenue from operations for FY23 fell 2% to Rs 423.6 crore.

  • Net profit for FY23 stood at Rs 44.78 crore, compared with Rs 104.12 crore in FY22.

  • It also reported annual repayments to the tune of Rs 9.8 crore.

Shares of Tatva Chintan Pharma opened lower and were trading 6.96% below the previous close at 12:57 p.m., compared with an over 1% rise in the benchmark Nifty 50.

Of the five analysts tracking the company, three maintain a 'buy' rating, and one each recommends 'hold' and 'sell', according to Bloomberg data. The return potential, as calculated by the average of analyst estimates, stands at 14.5% over the next 12 months.