India's Parag Milk Foods falls as Q3 profit more than halves

Parag Milk Foods

25/01/2023 08:05

** Shares of Parag Milk Foods  PAMF.NS  fall as much as
3.78% to 95.40 rupees, lowest in over a month since Dec. 23,
2022
    ** Co's third quarter net profit more than halved from a
year earlier
    ** Core profit declined, while core profit margins
contracted to 4.55% from 9.11%
    ** Inflation persisted, with prices of milk and fat
remaining elevated, co says, adding that "persistently high
inflation had an impact on margins"
    ** Trading volume is 245,006 shares as of 1:25 p.m. IST,
1.1x the 30-day avg of 213,157 shares
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))