India's KRBL drops on subdued quarterly profit

KRBL

09/11/2021 06:03

** Shares of Indian basmati rice processing co  KRBL.NS 
fall as much as 5.4% to 279 rupees, biggest intraday percentage
loss since Oct 20
    ** Co on Monday reported a 9.3% drop in its Sept-quarter
consolidated net profit to 1.36 bln rupees ($18.33 mln) from
1.50 bln rupees year ago  urn:newsml:reuters.com:*:nFWN2RZ1K1
    ** Co's Sept-quarter consolidated revenue from operations
fell to 10.54 bln rupees from 11.33 bln year earlier
    ** Q-o-Q, co has been tracking sharp inflection in bulk pack
sales in line with the opening up of the dining and banquets
industry - KRBL Chairman and MD Anil Kumar Mittal
    ** Co also said it was suspending a plan for restructuring
its energy segment
    ** 821,957 KRBL shares traded by 0543 GMT vs 30-day avg of
917,780  
    ** KRBL stock has gained about 21% this year as of last
close




($1 = 74.1900 Indian rupees)

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com))