India's Hikal Ltd falls most in over a month on profit drop

Hikal

03/02/2023 08:23

** Shares of Hikal Ltd  HIKA.NS  fall as much as 6% to 330.5
rupees, biggest intraday pct. loss since Dec. 23, 2022
    ** Chemical manufacturer reported 41.6% fall in Dec-qtr
profit to 264.1 mln rupees ($3.21 mln)
    ** Total revenue from operations rose 5% to 5.4 bln rupees,
but co was hurt by an 11.7% rise in total expenses
    ** Stock trading below its 50-day and 100-day moving
averages
    ** Stock was down 22% last year
($1 = 82.2080 Indian rupees)
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))