India's Paradeep Phosphates sheds 5% on Q4 profit fall

Paradeep Phosphates

17/05/2023 10:06

** Shares of phosphatic fertilisers maker Paradeep
Phosphates Ltd  PRAO.NS  fall as much as 5.14% to 52.65 rupees;
logs steepest intraday pct decline in five months
    ** Co reports 72% fall in consolidated net profit in the
March quarter to 99.8 mln rupees from 356.5 mln rupees in the
corresponding quarter a year ago  urn:newsml:reuters.com:*:nFWN37D25K
    ** Revenue nearly doubles to 36.44 bln rupees from 18.99 bln
rupees Y/Y
    ** But core profit falls to 906.1 mln rupees from 923.8 mln
rupees as costs nearly double during the March quarter
    ** Core profit margins contract to 2.49% from 4.86% Y/Y
    ** Trading volume is 5.17 mln shares as of 2:29 p.m. IST,
more than three times the 30-day avg - Refinitiv data

    

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