India's Meghmani Organics down on Q2 loss

Meghmani Organics

07/11/2023 08:25

** Shares of Meghmani Organics  MEGI.NS  fall 2.6% to 77.5
rupees
    ** The agricultural chemicals maker reported a consolidated
net loss of 153.4 mln rupees ($1.84 million) vs a profit of
661.5 mln rupees last year
    ** Revenue from operations nearly halved to 3.79 bln rupees
from the year ago, dragged by a 40.9% and 43.7% fall in sales in
pigment and agrochemicals segments, respectively 
    ** Stock trading below its 50-day, 100-day and 200-day
simple moving averages from mid-September
    ** Stock down 33% YTD


($1 = 83.2571 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))