Granules India, IOL Chemicals hit 52-week lows on weak Q2 results

IOL Chemicals slipped 10% to Rs 487, while Granules was down 8% to 285.80 on the BSE in intra-day trade

Shares of Granules India and IOL Chemicals & Pharmaceuticals hit their respective 52-week lows, falling up to 10 per cent on the BSE in Monday's intra-day trade, after the companies reported a disappointing set of numbers for the quarter ended September 2021 (Q2FY22).

IOL Chemicals, a leading manufacturer of pharmaceutical (APis) and specialty chemicals, slipped 10 per cent to Rs 487 after it reported 54 per cent year on year (YoY) decline in profit after tax (PAT) at Rs 31 crore in Q2FY22, due to weak operational performance. Total income, however, grew 4.6 per cent to Rs 548 crore