Advanced Enzyme Technologies shares slumped around 6 percent in trade on May 13, a day after the company reported a decline in net profit for the January-March quarter.
At 1.35 pm, shares of Advanced Enzyme Technologies were trading at Rs 380.05 on the NSE.
The company reported a 7 percent decline in its consolidated net profit to Rs 29.90 crore in Q4, down from Rs 32 crore reported in the year ago period. The drag on the bottomline was largely due to high finance and depreciation costs.
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Revenue for the quarter gone by rose 14 percent on year to Rs 157.8 crore as against Rs 138.70 crore in the year ago period.
Revenue from the human nutrition segment grew 17 percent to reach Rs 102.4 crore while the animal nutrition segment saw a decline of 10 percent to Rs 18.5 crore.
Meanwhile, the bio-processing segment witnessed strong growth, rising 35 percent during the quarter to Rs 25.8 crore in Q4 while the food business grew 33 percent to Rs 19.7 crore.
A better product mix and operational efficiencies helped the company expand its EBITDA margin to 35 percent in Q4, up from 32 percent in the base period.
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