Clariant Chemicals India sees worst day in over a year on lower profit

Sudarshan Colorants India

20/05/2021 06:35

** Specialty chemicals maker's  CLAC.NS  shares drop nearly
11.5% to 462 rupees - set for biggest intraday percentage fall
since March last year
    ** Clariant Chemicals India posted a 28% drop in
March-quarter profit from continuing and discontinued operations
of 109.7 million rupees ($1.50 million)  urn:newsml:reuters.com:*:nFWN2N512L
    ** However, co's quarterly revenue from operations rose 29%
to 2.19 billion rupees
    ** Clariant is set to snap a 3-day winning streak, if losses
hold
    ** CLAC also declared a final dividend of 15 rupees per
share 
    ** Despite session's losses, stock is still up ~25% YTD


($1 = 73.1040 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))