India's Laxmi Organic Industries loses over 4% on slide in Q4 earnings

Laxmi Organic Industries

15/05/2023 07:52

** Shares of Laxmi Organic Industries Ltd  LAXR.NS  fall as
much as 4.45% to 260 rupees, a one-month low
    ** Specialty chemicals maker reports 65% Y/Y fall in
consolidated net profit in March quarter to 243.16 mln rupees
    ** Revenue from operations falls 17% Y/Y to 7.33 bln rupees
    ** Core profit falls 29% Y/Y to 607.07 mln rupees, while
core profit margin contracts to 8.28% from 9.67% Y/Y
    ** Trading volume is 793,274 shares as of 12:16 p.m. IST,
0.8x the 30-day avg - Refinitiv data
    
 ($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))