Shares of Tatva Chintan Pharma Chemical Ltd tanked as much as 9 per cent in the early trade on the BSE on Tuesday, a day after recently listed specialty chemical firm posted Q3Fy22 results on Monday. Shares of this chemical firm declined even as the company posted a 10% YoY rise in the consolidated profit at Rs 23 crore for the quarter ended December 31, 2022 against Rs 21 crore in the corresponding quarter last fiscal.  

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Shares of Tatva Chintan Pharma declined over 9 per cent to day's low of Rs 2597.05 per share on the BSE. At 9.45 am, shares of this specialty chemical were trading lower by Rs 243.75 or 8.50% to Rs 2624.25 apiece on the BSE. 

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Tatva Chintan Pharma Chem had debuted on the stock market at huge premium as the shares of the company got listed at Rs 2,111.80 on BSE, a 95 per cent premium over its issue price of Rs 1,083. On the NSE, the scrip got listed at Rs 2,111.85, up 95 per cent. 

Earlier on Monday, Tatva Chintan Pharma Chem in its Q3Fy22 result said that the company's revenue from operations grew 31% YoY to Rs 105 crore as compared to Rs 80 crore posted last year.  

The EBITDA fell 6% YoY to Rs 23 crore compared to Rs 25 crore posted last year. The company’s margin contracted to 22% in Q3FY22 compared to 32% posted in Q3FY21. 

The company has reported EPS of Rs.10.29 for the period ended December 31, 2021 as compared to Rs.10.39 for the period ended December 31, 2020. 

The Vadodara-based firm is a specialty chemical manufacturing company. The company exports most of its products to over 25 countries, including the US, China, Germany, Japan, South Africa, and the UK.