Shilpa Medicare tanks 36% in 10 days, hits 5-yr low on weak Q1 results

For Q1FY20, the company reported 55 per cent year-on-year (YoY) drop in its consolidated net profit at Rs 15 crore, due to lower sales

Shares of Shilpa Medicare were continued to remain under pressure and hit a 5-year low of Rs 222, down 9 per cent on the BSE in intra-day trade on Tuesday in an otherwise firm market on weak earnings. The stock was trading at its lowest level since July 2014.

The pharmaceutical company's stock price has tanked 36 per cent since August 13 -- when the company declared results for the April-June quarter (Q1YF20) -- as compared to 0.2 per cent rise in the S&P BSE Sensex.

“The price movement of equity shares of the company can be largely attributed to the