Alkyl Amines Chemicals Shares Fall After Q4 Net Profit, Revenue Decline
The specialty-chemical manufacturer's net profit declined 20.94% year-on-year to Rs 38.45 crore in the January-March quarter of FY24, according to an exchange filing.
![<div class="paragraphs"><p>Alkyl Amines Chemicals' plants. (Source: Company website)</p></div>](https://media.assettype.com/bloombergquint%2F2023-08%2Ff7766fe5-06b0-445d-a3d4-86a98bfc4b96%2FAlkyl_Amines_Chemicals_Ltd__s_plants___Source_Company_website_.png?rect=0%2C0%2C592%2C333&auto=format%2Ccompress&w=200)
Shares of Alkyl Amines Chemicals Ltd. declined over 5% on Thursday after the company reported a nearly 21% decline in its fourth-quarter net profit.
The specialty-chemical manufacturer's net profit declined 20.94% year-on-year to Rs 38.45 crore in the January-March quarter of FY24, according to an exchange filing.
Alkyl Amines Chemicals Q4 FY24 Results Highlights (YoY)
Revenue falls 13.54% to Rs 356.6 crore.
Ebitda falls 11.23% to Rs 68.94 crore.
Margin rises 49 bps to 19.33%.
Net profit falls 20.94% to Rs 38.45 crore.
![Alkyl Amines Chemicals Shares Fall After Q4 Net Profit, Revenue Decline](https://media.assettype.com/bloombergquint%2F2024-05%2F7a26603e-fd2e-4542-92bb-e4f6db7eef9f%2FALKYLAMINE.png?auto=format%2Ccompress)
Shares of the company declined 5.60% intraday, the lowest level since May 8. They pared loss to trade 4.42% lower at 1:32 p.m., compared to a 1.12% decline in the NSE Nifty 50.
The stock has declined 20.87% in 12 months and 20.83% year-to-date. The total traded volume so far in the day stood at 1.2 times its 30-day average. The relative strength index was at 45.40.
Of the four analysts tracking the company, two maintain a 'buy' rating, one recommends a 'hold,' and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' price target implies an upside of 11.00%.