Shares of this agrochemical maker are having their worst day since listing

Shares of agrochemical company Heranba Industries fell 20 percent on Monday after the company reported a decline in profit and revenue for the December quarter.

Heranba Industries posted a 76 percent plunge in profit after tax (PAT) to Rs 13 crore in December quarter from Rs 53 crore in the year-ago period. Sequentially, PAT was down 73 percent.

The company's revenue slumped nearly 30 percent to Rs 276 crore year-on-year in the December quarter from Rs 395 crore in the year-ago period. On a sequential basis, revenue fell 34 percent from the September quarter.