India's Cupid Ltd set for worst day in nearly 1 year on profit fall

Cupid

04/06/2021 07:38

** Shares of the condom manufacturer  CUCO.NS  slump as much
as 8.1% to 229.70 rupees - set for biggest one-day percentage
loss in almost a year
    ** Cupid Ltd reported a near 38% fall in March-quarter
profit as it witnessed reduced demand for female condoms
especially from South Africa  urn:newsml:reuters.com:*:nBSEbKTy8Q
    ** CUCO's March-quarter revenue from operations also dipped
to 396 mln Indian rupees ($13,685.04) from 412.8 mln rupees a yr
ago
    ** Cupid expects improved demand for both male and female
condoms as the impact of COVID-19 pandemic fades
    ** Co's board also recommended a final dividend of 3.50
rupees/share for the year ended March 31
    ** Including the session's fall, stock has erased YTD gains
and is down over 6% for the year


($1 = 73.0725 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))