Dishman Carbogen shares tumble 10% after reporting net loss of Rs 135.02 crore in Q4
The company also reported a net loss of Rs 165.13 crore in the year ended March 2021 against a net profit of Rs 158.51 crore in the previous year.
May 12, 2021 / 01:22 PM IST
Dishman Carbogen Amcis | Promoter Adimans Technologies LLP reduced stake in the company to 59.32 percent from 61.93 percent earlier, via offer for sale route.
Dishman Carbogen share price tanked over 10 percent intraday on May 12, a day after the company reported a net loss of Rs 135.02 crore in the March quarter against a net profit of Rs 50.19 crore in the year-ago period.
The company's sales rose 3.36 percent to Rs 529.32 crore in the quarter ended March 2021 as against Rs 512.11 crore in the same period last year.
For the full year, the company reported a net loss of Rs 165.13 crore against a net profit of Rs 158.51 crore during the previous financial year. Sales declined 6.44 percent to Rs 1912.03 crore in the year ended March 2021 as against Rs 2043.60 crore in the corresponding period of the previous year.
During the quarter under review, the company made a provision of Rs 96.28 crore towards additional deferred tax expenses as the outcome of the difference between goodwill as per books of accounts and nil tax, a CNBC-TV18 report said.
The stock was trading at Rs 170.10, down Rs 20.00, or 10.52 percent at 1242 hours. It touched an intraday high of Rs 177.60 and an intraday low of Rs 160.30.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the company reported a decline in quarterly net profit with a falling profit margin (YoY). Promoter holding decreased by more than 2 percent QoQ. MFs also decreased their shareholding in the last quarter.
Moneycontrol's technical rating, however, is bullish, backed by strong moving averages and technical indicators.Disclaimer: Moneycontrol.com advises users to check with certified experts before taking any investment decisions.