India's KRBL plunges as much as 10% as Q4 core profit falls

KRBL

31/05/2023 06:53

** Shares of Indian rice producer KRBL Ltd  KRBL.NS  drop
down as much as 10.14% at 362.55 rupees - sharpest intraday
slide since Sept 8, 2022
    ** India Gate basmati rice maker's Q4 core profit fell to
1.44 bln rupees ($17.42 mln) vs 1.63 bln rupees yr ago 
    ** Core profit margins contracted to 11.25% vs 16.51% yr ago
    ** Co shares fell below 50-day and 100-day simple moving
average, indicating bearish trend 
    ** More than 1.6 mln shares changed hands by 11:20 A.M. IST,
in heaviest trading day since Apr 19 
    ** KRBL has fallen nearly 7% so far this year

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))