India's Hester Biosciences hits over 1-mth low on Q4 profit fall

Hester Biosciences

17/05/2023 09:08

** Shares of poultry and animal healthcare co Hester
Biosciences Ltd  HEST.NS  fall as much as 8.1% to 1,686 rupees,
lowest since April 12
    ** Steepest intraday pct decline since March 13
    ** Co reports 41.3% drop in Q4 profit to 45.3 mln rupees
($553,925.17)
    ** Revenue from co's poultry healthcare division, which
accounts for 60.2% of standalone revenue, fell 8.4% 
    ** The poultry industry continues to be under pressure due
to high feed costs and low product realisations - HEST said in a
statement
    ** Over 16,000 shares change hands as of 1:31 pm IST, 3.5X
the 30-day moving average
    ** Stock down 2.4% YTD as of last close
    
($1 = 81.7800 Indian rupees)
    

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