India's Avadh Sugar falls on slide in Q3 profit

Avadh Sugar & Energy

06/02/2023 10:19

** Shares of Avadh Sugar & Energy  AVAD.NS  close 1.16%
lower at 461.5 rupees
    ** The sugar maker on Monday reported a 39% YoY fall in net
profit to 177.36 mln rupees in the Dec-qtr
    ** Core profit margin contracts to 7.47% from 9.79%
    ** Co's revenue declines 9.5% due to fall in sugar segment,
which accounts for nearly 80% of revenue
    ** 81,800 shares traded by closing, 1.25x above 30-day avg
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
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