Amrutanjan shares fall 8.15% as company initiates forensic investigation to probe allegation of lapses by some employees
The Hindu
CHENNAI
Shares of Amrutanjan Health Care Ltd. dipped 8.15%, or ₹57.25, to close at ₹645.35 on the BSE on Wednesday after the company initiated a forensic investigation by Deloitte Touche Tohmatsu India LLP based on certain allegations made by an ‘anonymous whistle blower’ on lapses by some employees.
The company said it would extend fullest cooperation and information to the forensic auditors during the process of the investigation as per applicable provisions of law. In a filing, the company also said it would also file the final report of the forensic audit with comments of the management as per regulations.
The city-based company on Tuesday said it had received an anonymous whistle blower complaint alleging lapses by certain senior management employees including undue enrichment through marketing, advertising and procurement activities, ethical concerns, and conflict of interest.
On Tuesday, Amrutanjan reported a 48% decline in standalone net profit for the quarter ended December to about ₹11 crore. Revenue from operations contracted 12% to ₹98 crore. The board declared a second interim dividend of ₹1 per share.
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