India's Aarey Drugs falls as low demand dents Q3 profit

Aarey Drugs and Pharmaceuticals

09/02/2023 06:20

** Shares of Aarey Drugs and Pharmaceuticals Ltd  ADPH.NS 
fall as much as 3.9% to 33.5 rupees after reporting
December-quarter earnings on Wednesday
    ** The pharmaceutical ingredients and specialty chemicals
manufacturer said quarterly profit slumped nearly 75% to 4.9
million rupees ($59,319.88), hurt by muted demand growth
    ** Revenue from operations also fell about 55% to 624.7
million rupees
    ** About 19,695 shares change hands by 11:31 a.m. IST vs
30-day avg of 30,550 shares
    ** Stock down 9.8% so far this year, as of last close
($1 = 82.6030 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))