Q3FY19 Results Season: 5 stocks that have corrected sharply

The earnings season for the quarter ending December 2018 has begun. So far 300 companies have reported their Q3FY19 results and the performance seems to have been neutral. Read on for an analysis of stocks that have corrected sharply.

We have considered top 5 companies whose stock prices have corrected majorly following their Q3FY19 earnings announcement, till January 24, 2019.

Thirumalai Chemicals reported its results on January 23, 2019. Its consolidated revenue was down by 6 per cent. While the EBITDA and PAT dipped by 67 per cent and 78 per cent, respectively. The management has stated that fluctuating crude oil prices, China and far east slowdown and declining commodity chemicals prices led to decline in profitability. The stock dipped from Rs. 101.4 to Rs. 81 in two days, a downside of 20 per cent.

ICICI securities reported its result on January 14, 2019. The revenues dipped by 18 per cent YoY while net profit fell by 34 per cent YoY. Since then the stock has corrected by 25 per cent from Rs. 276.05 to Rs. 207.95.

Shree Rama Newsprint’s results were out on January 12, 2019. Since the stock dipped by 17 per cent from Rs 28.70 to Rs. 23.90.

Tejas Networks reported results on January 23, 2019. The stock corrected by 14 per cent from Rs. 213.40 to Rs. 183.25. The revenue was down by 20 perc ent YoY and EBITDA declined by 28 per cent YoY. As per the management, revenue declined due to delay of government orders.

Fiberweb’s result were out on January 17, 2019. Since then, the stock dipped by 10 per cent as its revenue was down by 57 per cent and PAT dipped by 41 per cent.