Share prices of Vinati Organics declined 6 percent in the morning trade on November 13 after the company announced its September quarter results and sub-division of share price.
The company on November 12 reported a 33 percent jump in its September quarter net profit at Rs 110 crore against Rs 82.35 crore in the year-ago period.
The company’s revenue was down 15 percent at Rs 245.06 crore versus Rs 290.74 crore, YoY.
The board has approved sub-division of equity shares from 1 equity share of face value of Rs 2 each to 2 equity shares of face value of Re 1 each on a date to be determined by the board subsequent to the approval of the shareholders.
At 1100 hours, Vinati Organics was quoting at Rs 1,955.00, down Rs 120.45, or 5.80 percent, on the BSE.
News Source:- Moneycontrol