AstraZeneca Pharma Shares Plunge 14% To One-Month Low After Q3 Profit Dips 46%
The company's margin contracts 972 basis points to 4.92% in the quarter ended December.
Shares of AstraZeneca Pharma India Ltd. plunged over 14% to their lowest in a month on Friday after its profit dropped 46% in the third quarter.
The pharmaceutical company posted a net profit of Rs 15.8 crore in the quarter ended December, according to an exchange filing on Thursday.
AstraZeneca Q3 FY24 Earnings Highlights (YoY)
Revenue up 22% at Rs 305.8 crore.
Ebitda down 58.9% at Rs 15.1 crore.
Margin contracts 972 basis points to 4.92%.
Net profit down 46% at Rs 15.8 crore.
On the NSE, AstraZeneca's stock fell as much as 14.52% during the day to Rs 5,615.75 apiece, the lowest level since Jan. 9. It was trading 13.31% lower at Rs 5,695.60 apiece, compared to a 0.08% advance in the benchmark Nifty 50 as of 10:05 a.m.
The share price has risen 68.53% in the last 12 months. The total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was at 39.
