India's Morepen Laboratories slips on lower Q3 profit

Morepen Laboratories

13/02/2023 09:36

(Repeats with no changes to text)
    ** Shares of Morepen Laboratories  MORL.NS  fall as much as
4.40% to 27.15 rupees
    ** Stock record its steepest intraday pct decline since Jan
27
    ** The pharma company reports 58% fall in Q3 net profit to
89.93 mln rupees vs 215.21 mln rupees a year ago
    ** Income from operations, core profit margin also fall in
Q3; core profit margins contract to 5.9% from 8.11% a year ago
    ** Trading volume of 1.34 mln shares, as of 2:21 p.m. IST,
0.3x the 30-day avg of 4.61 mln shares: Refinitiv data
 
 ($1 = 82.6350 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))