Shares of Emami hit over 3-month low as Q3 EBITDA missed estimates. The stock slumped as much as 6.1 per cent to Rs 1,154.85, lowest since October 25, 2017. The stock posted its biggest intraday percentage loss since June 21, 2017.
The company had said on Monday that December quarter profit rose 9.5 per cent to Rs 147 crore ($23.08 million). While Q3 EBITDA was up 2 per cent, it was below estimates due to the weak performance of a medicinal oil brand, Macquarie analysts wrote in a note.
The Ayurvedic brand, Kesh King, fell 19 per cent, hurt by challenges in wholesale and rural markets, while pressure from a rival medicianl oil brand, Kesh Kanti, also weighed, Macquarie analysts add.
Up to Monday's close, stock had fallen 7.5 per cent this year.