The company posted a net profit of ₹8 crore for the quarter, down 59.6% from ₹19.8 crore in the corresponding period last year. Revenue declined 14.3% year-on-year to ₹474.3 crore from ₹553.5 crore earlier.
Operating performance deteriorated sharply during the quarter. EBITDA fell 70% to ₹19.7 crore from ₹65.5 crore a year ago, while EBITDA margin contracted to 4.1% from 11.8% in the year-ago period.
Following the earnings announcement, shares of Meghmani Organics came under pressure on the NSE. The stock was trading 2.9% lower at ₹52.45 as of 2:21 PM.
Meghmani Organics operates in the chemicals sector and is engaged in the manufacturing of crop protection chemicals, pigments and basic chemical products catering to domestic as well as international markets.
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The sharp decline in margins indicates continued pressure on costs and operating profitability, even as the company navigates a challenging demand environment.
