Shares of major Indian companies Zee Entertainment Enterprises Ltd, PTC India Ltd, and PI Industries experienced significant declines in Wednesday's trade, with some stocks plummeting by as much as 9%. The sharp downturn followed the release of their respective March quarter (Q4) results, which largely disappointed market expectations.
PI Industries Reports Profit Dip Amid Agchem Contraction
PI Industries saw its shares tank by 8.35%, hitting a low of Rs 2,863.65. The agrochemical company reported a 39% year-on-year (YoY) fall in net profit for the March quarter, landing at Rs 200.20 crore, down from Rs 330.50 crore in the prior year. Revenue also decreased by 12% YoY to Rs 1,565.20 crore.
The company attributed this performance to a 15% decline in Agchem exports, a consequence of a broader contraction in the global agrochemical industry. Domestic revenue softened by 9% YoY, despite a modest 3% increase in volume, as elevated market inventory levels led to pricing pressures.
Zee Entertainment Posts Q4 Net Loss
Zee Entertainment Enterprises Ltd (ZEEL) shares dropped 6.34%, falling to Rs 82.12 apiece. The media firm announced a consolidated net loss of Rs 102 crore for the March quarter, a stark contrast to the net profit of Rs 188.4 crore recorded in the same period last year.
Analysts noted that Zee exited FY26 on a dismal note, with consolidated revenue declining 7% YoY. Advertising revenue dipped 4% YoY, and adjusted EBITDA plunged 51% YoY, significantly missing estimates. This was primarily due to higher advertising and promotion (A&P) expenses and other operational costs. Reported profitability was further impacted by a change in the accounting treatment of movie rights.
Despite a trend of declining ad revenue, market observers have projected a modest 3.5% CAGR in ad revenue over FY26-28E, though they acknowledge downside risks from the structural shift in ad spending towards digital platforms.
PTC India's Profit Plummets 66%
PTC India Ltd, a provider of power trading solutions, saw its shares fall by nearly 9%, reaching a low of Rs 189.25. The company reported a substantial 66% year-on-year decline in its consolidated net profit for the March quarter of FY26, which stood at Rs 121.27 crore compared to Rs 363.76 crore in the corresponding quarter of the previous year.