India's Atul slides to 9-month low on fall in Q3 earnings

Atul

20/01/2023 08:58

** Shares of diversified chemicals maker Atul Ltd  ATLP.NS 
fall as much as 5.18% to 7,350.50, lowest in over nine months
since April 12, 2021
    ** Co reported a slide in net profit, revenue from
operations and core profit
    ** Core profit margins contracted to 13.56% compared to
18.19% in the same period, a year ago
    ** Revenue from performance chemicals segment, which
accounts for nearly two-thirds of total revenue, declined in the
December quarter, offsetting the benefits due to reduction in
raw material costs
    ** Trading volume on the stock is 92,795 shares, nearly
thrice the 30-day avg of 33,977 shares, as of 2:21 p.m. IST
    ** Of the nine analysts tracking the company, five suggest
"buy", two recommend "sell" and two maintain "hold"; median TP
is 9,465.50 rupees   
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
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