India's Deepak Fertilisers falls on June-quarter profit slump

Deepak Fertilisers and Petrochemicals

26/07/2023 10:33

** Shares of Deepak Fertilisers and Petrochemicals Corp
 DPFE.NS  fall as much as 7.9% to 544.3 rupees, lowest since
June 7
    ** Stock logs steepest intraday pct decline since Dec. 22,
2022
    ** Co reports 74.7% decline YoY in June-quarter consolidated
net profit to 1.10 bln rupees ($13.4 mln); revenue falls 23.7%
    ** Revenue in its chemicals segment drops 30.1%, while
revenue from fertilisers falls 14.9%; both businesses contribute
roughly half of total income from operations
    ** Over 1.6 mln shares change hands as of 2:56 p.m. IST,
1.9X the 30-day moving average
    ** Including day's move, stock 22.8% YTD
    
($1 = 82.0025 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))