Styrolution ABS falls almost 9.5%
By
Research Desk
about 8 years ago
Styrolution ABS fell by around 9.5% to an intra day low of Rs.586.50, getting closer to its 52-week low of Rs.548.
The markets were very disappointed with the company’s Q3FY16 performance. It began right from the topline where net sales dropped over 24% (YoY) at Rs.228 crore and net profit came in at Rs.2 crore v/s Rs.6 crore in previous Q3 and Rs.9 crore in Q2.
Total costs dropped 22% and this was thanks to the 36% drop in raw material prices. Interest costs fell 57% and despite all this, the net profit took such a big hit.