Shares of Fertilizers and Chemicals Travancore (FACT) nosedived 10 percent on May 5 after the company reported a 26.9 percent on-year decline in net profit for the fourth quarter of FY23 at Rs 165.60 crore.
The weak bottomline was on account of a 26.2 percent year-on-year (YoY) fall in revenue, which came in at Rs 1,248 crore, down from Rs 1,692.50 crore in the year-ago period, the company said in an exchange filing on May 5.
EBIDTA (earnings before interest, taxes, depreciation, and amortisation) also declined 37.9 percent YoY to Rs 184.1 crore from Rs 296.6 crore in the same quarter last year. Operating margin also contracted to 14.7 percent in January-March period as against 17.5 percent in the year-ago quarter.
At 1.30 pm, Fertilizers and Chemicals Travancore was trading with a cut of 7.42 percent at Rs 324.35 on the National Stock Exchange.
Catch up on all LIVE stock market updates here
The stock has been a multibagger, flushing out returns of around 670 percent in the past three years.
A fall in fertilizer prices has, however, weighed on the stock in recent times, as it is down around 13 percent for 2023 so far.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
