India's Meghmani Finechem falls most in 1 mnth after Q4 profit drop

Epigral

25/04/2023 09:15

** Shares of Meghmani Finechem Ltd  MEGM.NS  fall as much as
5.3% to 993.3 rupees, biggest intraday pct. loss since March 15 
    ** Essential chemicals maker says March-qtr consol. net
profit dropped 23% to 767.3 mln rupees ($9.4 mln) hurt by
soaring input costs
    ** Co's consol. revenue from operations rose 13% to 5.62 bln
rupees
    ** Stock trading below its 100-, and 200-day moving averages
    ** Trading volume at ~130,000 shares, 2x the 30-day avg as
of 1:35 p.m. IST 
    ** Up to last close, stock was down ~16% so far this year



($1 = 81.9230 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))