India's K.M. Sugar Mills sours on plunge in Q3 profit

K M Sugar Mills

06/02/2024 06:54

** Shares of sugar maker K.M. Sugar Mills  KMSU.NS  slide
~6%, their steepest drop since Oct 2023 
    ** Co reported a ~85% plunge in Q3 consol profit; rev from
ops fell 39.5%, while input costs swelled ~72% 
    ** Stock had gained 15.5% in past 2 days on heavy vols
    ** Dalmia Bharat Sugar  DLMI.NS , Dwarikesh Sugar  DWAR.NS 
and Dhampur Sugar Mills  DAMS.NS  also reported Q3 profit fall 
    ** Shares of DWAR and DAMS fell nearly 17% each in Q3, while
KMSU and DMLI fell less than 10%
    ** Over 2.2 mln KMSU shares traded on the day, ~3x the
30-day avg but less than previous two session


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))