Hikal slumped 14% to Rs 138.85 after the company's consolidated net profit tumbled 40.5% to Rs 15 crore on a 12.6% decline in net sales to Rs 347.13 crore in Q1 FY21 over Q1 FY20.
On the segmental front, pharmaceuticals business revenue was at Rs 213.65 crore (up 4% YoY) while the revenues from the crop protection business were at Rs 139.12 crore (down 30.2% YoY) in the June quarter.
Profit before tax in the first quarter stood at Rs 22.79 crore, down by 38.1% from Rs 36.2 crore recorded in the corresponding period last year. Current tax expense shrunk 31.8% on a year-on-year (YoY) basis to Rs 8.03 crore in Q1 June 2020.
Hikal is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharmaceutical ingredients (APIs) and contract research activities.
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