Sequent Scientific tanks 15% on dismal Apr-Jun earnings

​BY A STAFF REPORTER: 

Shares of Sequent Scientific plunged 15% as the company's consolidated net profit for the June quarter crashed 94.5% on year to 8.73 mln rupees.

Its operating margin contracted sharply to 6.29% in Apr-Jun from 15.4% a year ago because of higher raw material cost, employee benefits and other expenses.

The company faced challenges during the reporting quarter on the demand and execution front. The company would provide more details in its conference call with analysts.

However, revenue rose 8.6% from a year ago to 3.21 bln rupees.

Source : Eureka

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