The specialty chemicals and API manufacturer reported an 811 per cent year-on-year (YoY) jump in consolidated net profit to Rs 32.4 crore. On a sequential basis, the company’s net profit rose 40 per cent.
The scrip pared some gains to trade at Rs 2340.45 at 10.03 am. BSE Sensex was trading at 60,513.44, 308.18 points or 0.51 per cent lower at the same time. The shares of Tatva Chintan Pharma Chem had settled at Rs 2,132.05 on Friday.
The company’s revenue from operations during the second quarter of the financial year 2021-22 (Q2FY22) surged 105.8 per cent YoY to Rs 123.6 crore. Meanwhile, the figure rose 16 per cent compared to the June 2021 quarter.
Listed in July 2021, Tatva Chintan is the largest and only commercial manufacturer of structure-directing agents (SDAs) for zeolites in India.
The company had listed at a premium of 95 per cent at Rs 2,111.80 per share over its issue price of Rs 1,083. On a year-to-date basis, the scrip has surged about 130 over its issue price.
It is engaged in the manufacturing of a diverse portfolio of phase transfer catalysts (PTCs), electrolyte salts for supercapacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC).
