Gujarat Alkalies & Chemicals witnessed a sharp fall in share price on Wednesday after it reported a steep drop in standalone net profit for the quarter ended June 2015. During the quarter, the profit of the company declined 22.76% to Rs 439.90 million from Rs 569.50 million in the same quarter last year.

Revenues for the quarter declined marginally 4.42% to Rs 4,751.50 million, compared with Rs 4,971.30 million for the prior year period.

Shares of Gujarat Alkalies & Chemicals are trading at Rs 170.90, down Rs 8.5, or 4.74% at the Bombay Stock Exchange (BSE) on Wednesday at 10:23 a.m.

The scrip has touched an intra-day high of Rs 172.30 and low of Rs 168.20. The total volume of shares traded at the BSE is 11,894.