Polyplex Shares Tumble Nearly 9% On Profit Plunge
Polyplex's fourth-quarter net profit plunged 93.34% to Rs 20.3 crore, while revenue fell 11.6% to Rs 1,667.1 crore.
Shares of Polyplex Corporation Ltd. fell nearly 9%, the most in over a year, after its fourth-quarter profit and revenue plunged.
Polyplex's profit plunged 93.34% to Rs 20.3 crore in the fourth quarter ended March, while revenue fell 11.6% to Rs 1,667.1 crore, according to an exchange filing.
Polyplex Corporation Q4 FY23 (Consolidated, Year-on-Year)
Revenue down 11.6% at Rs 1,667.1 crore.
Ebitda down 85.39% at Rs 55.4 crore.
Ebitda margin at 3.32% versus 20.1%.
Net profit down 93.34% at Rs 20.3 crore.
The company will pay a final dividend of Rs 3 per share for fiscal 2023.
Shares of the company declined 8.52% intraday before recovering to trade 7.39% lower as of 11:06 a.m., compared to a 0.16% gain in the Nifty 50.
The total traded quantity so far in the day stood at 7.5 times the 30-day average volume.
The one analyst tracking the stock maintains a 'hold', according to Bloomberg data.