Rossari Biotech tanks 20%, hits 52-week low post December quarter results

The management said raw material volatility has impacted profitability performance during the quarter

Shares of Rossari Biotech tanked 20 per cent to hit a 52-week low of Rs 915 on the National Stock Exchange (NSE) in Tuesday's intra-day trade after the company reported weak operational performance in December quarter (Q3FY22). The stock of the speciality chemicals has fallen below its previous low of Rs 906.65 touched on February 15, 2021.

In Q3FY22, the company's standalone earnings before interest tax and depreciation and amortization (Ebitda) margin contracted 450 bps at 11.8 per cent from 16.3 per cent in Q3FY21. Profit after tax (PAT) declined 11.5 per cent year-on-year (YoY) at Rs 18.27 crore,