India's Thirumalai Chemicals lowest in over one year on Q3 profit slump

Thirumalai Chemicals

27/01/2023 05:01

** Shares of chemicals manufacturer Thirumalai Chemicals Ltd
 THRM.NS  fall as much as 9.9% to 172 rupees, lowest since Aug.
24, 2021
    ** Stock posts steepest intraday pct fall since July 27,
2022
    ** Co on Wednesday said its consolidated profit for December
qtr fell 89% YoY to 83 mln rupees ($1.02 million)
    ** THRM'S consolidated revenue from operations fell 6% YoY
to 5.08 bln rupees; total expenses climbed 13.7% YoY to 5.05 bln
rupees
    ** Stock on track for a third consecutive session of losses,
if losses hold
    ** Over 688,756 shares change hands by 09:58 a.m. IST, 3.5x
the 30-day moving avg
    ** Stock fell ~15% in 2022 after posting two consecutive
annual gains
($1 = 81.6150 Indian rupees)
 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))