Thirumalai Chemicals, Tejas Networks hit 52-week lows on weak Q3 results

Shares of Thirumalai Chemicals and Tejas Networks hit their 52-week low in the intra-day trade on Thursday after the companies reported weak numbers for December quarter of FY19. 
 

Thirumalai Chemicals repored a 76 per cent YoY slide in its Q3 net profit at Rs 10.22 crore. It had posted PAT of Rs 43.24 crore in the year-ago period. 

Total comprehensive income for the period stood at Rs 18.12 crore, down 81 per cent YoY against Rs 94.46 crore in the corresponding quarter last fiscal. Basic earnings per equity share (Profit for the period) came in at Re 1 against Rs 4.22 in the year-ago quarter. 

Thirumalai Chemicals is a leading producer of chemicals such as Phthalic Anhydride, Malic Acid, Maleic Anhydride and Fumaric Acid. 

At 11:04 am, the stock was trading 19 per cent lower at Rs 82 apiece on NSE.

On similar lines, Tejas Networks was trading 9 per cent lower at Rs 194 apiece on NSE. It hit a low of Rs 185.05 during the day. 

The company reported a 2 per cent decline in its net profit at Rs 31.67 crore against Rs 32.33 crore in the year-ago period. Total revenue for the period came in at Rs 190.25 crore, down 24 per cent YoY at Rs 235.82 crore.