DelhiDesk Tatva Chintan Pharma Chem saw a decline of over 8% in its share price on Monday due to disappointing quarterly results. The company’s net profit fell by 3.2% in the March quarter of FY 2022-23, while consolidated revenue rose by 26%. The company’s EBITDA declined by 26% YoY in the March quarter, and Nirmal Bang Institutional Equities has downgraded its rating on Tatva Chintan Pharma Chem to ‘Sell’. The stock has been flat in the last month but has seen a decline of 28% in the last 6 months and 22% so far this year.
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👉 Tatva Chintan Pharma Chem shares fell over 8% on Monday.
👉 The company’s net profit fell 3.2% to Rs 16.95 crore in the March quarter of FY 2022-23.
👉 Consolidated revenue rose 26% to Rs 124.5 crore.
👉 Nirmal Bang Institutional Equities downgraded its rating on Tatva Chintan Pharma Chem to ‘Sell’.
👉 The brokerage firm reduced the target price to Rs 1,600 from Rs 1,950.
👉 Tatva Chintan Pharma Chem shares have seen a decline of 28% in the last 6 months.
👉 In the last one year, investors have lost 22%.
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