India's Associated Alcohols & Breweries sinks on Q1 profit drop

Associated Alcohols & Breweries

11/08/2023 09:17

** Shares of India's Associated Alcohols & Breweries
 ASAL.NS  down as much as 11.91% to 415.50 rupees, their
sharpest intraday loss since May 26, 2022
    ** Stock posts lowest level since July 12 
    ** Co's Q1 net profit slid 8% at 123.5 million Indian rupees
($1.49 million) while revenue slipped 15% 
    ** More than 680,649 shares changed hands, more than 9x of
30-day avg
    ** Co stock sees busiest day since Sept 27, 2022
    ** Including session's losses, ASAL stock down ~8% 

    ($1 = 82.7650 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com))