India's Khaitan Chemicals and Fertilizers down as low demand dents Q3 profit

Khaitan Chemicals and Fertilizers

24/01/2023 06:40

** Shares of Khaitan Chemicals and Fertilizers Ltd  KHCF.NS 
 fall as much as 7.7% to 69.3 rupees, their biggest pct loss
since Dec. 23
    ** KHCF on Monday said qtrly net profit slumped 74% to 75.3
million rupees ($922,907.22) due to a dip in demand for
fertilisers
    ** Total income for the Dec-qtr was 2.14 billion rupees,
down 21.2%
    ** Stock fell below 50-, 100- and 200-day simple moving
averages
    ** About 442,000 shares change hands by 11:35 a.m. IST, vs
30-day avg of 369,868 shares
    ** Stock up ~22% last year
($1 = 81.5900 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))