Tatva Chintan Pharma Chem share price: Tatva Chintan Pharma shares tumble 9% post Dec quarter earnings

Tatva Chintan Pharma shares tumble 9% post Dec quarter earnings

18 Jan , 2022 By : monika singh

New Delhi: Shares of Tatva Chintan Pharma Chem dropped 9 per cent in Tuesday's trade following a weak operating performance in the quarter ended December 31, 2021.

The company reported a 9 per cent year-on-year (YOY) rise in consolidated net profit at Rs 22.8 crore in the December 2021 quarter, with a 31 per cent YoY jump in total revenue to Rs 104.67 crore.
The Ebitda declined 6 per cent to Rs 23 crore compared with Rs 25 crore posted last year. The company’s margin contracted to 22 per cent in the December 2021 quarter as against 32 per cent in the same period a year ago.

Following the update, shares of Tatva Chintan slumped over 9 per cent to Rs 2597.05, before recovering to Rs 2,626.05 at 9.40 am. The scrip had settled at Rs 2,868 on Monday.
For the nine months ended December 31, 2021, the company reported a net profit of Rs 78.36 crore, which is 152 per cent higher than the corresponding period previous fiscal. Revenue jumped 75 per cent to Rs 335.11 crore during the period.

BSE Barometer and benchmark Sensex was trading at 61,222.86, 86.05 points or 0.14 per cent lower, at the time of writing this report.
Tatva Chintan Pharma Chem was listed in July 2021 as the company raised Rs 500 crore via its IPO by selling the shares in the range of Rs 1,073-1,083 a piece.

Shares of Tatva Chintan have zoomed more than 150 per cent over its issue price so far but have corrected 13 per cent from its 52-week high of Rs 2,975.55 hit during early November 2021.
Incorporated in 1996, Tatva Chintan is a chemical manufacturing company that manufactures structure directing agents, phase transfer catalysts, pharmaceutical and agrochemical intermediates and other specialty chemicals.

The company serves customers across industries including automotive, petroleum, agrochemicals, dyes and pigments, paints and coatings, pharmaceutical, personal care, and others.
Its products are not only sold in India but also exported to 25 countries all over the world such as the USA, Germany, South Africa, China, and the UK.