India's Dodla Dairy down nearly 6% on Q4 profit fall

Dodla Dairy

22/05/2023 05:35

** Shares of dairy products retailer Dodla Dairy Ltd
 DODL.NS  down as much as 5.5% to 474.55 rupees
    ** Stock sees biggest intraday pct loss since March 20,
touches lowest level since April 17 
    ** Co reports 44% fall in consolidated net profit to 225.29
mln rupees ($2.75 mln) from 404.82 mln rupees a year ago 
    ** Steep increase in milk procurement prices led by muted
flush season and heatwave in CY23 to continue to hurt margins in
 H1FY24, say ICICI Securities analysts in a note 
    ** Total expenses rise nearly 27% to 7.06 bln rupees
    ** Revenue from operations rise about 23% to 7.24 bln rupees
    ** Stock down 0.71% YTD as of last close

($1 = 81.7800 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))