India's Patanjali Foods falls on Q1 profit slump

Patanjali Foods

14/08/2023 09:07

** Shares of Patanjali Foods  PAFO.NS  fall as much as 4.85%
to 1,231.10 rupees
    ** Edible oil maker on Friday reported 63.6% fall in
June-qtr PAT as high costs dented margins  urn:newsml:reuters.com:*:nL4N39R4FN
    ** While rev from ops rose 7.7% YoY, total expenses rose
9.3%
    ** Stock on track for a sixth consecutive session of loss if
trends hold
    ** Stock's MACD line below the signal line since Aug. 2,
indicating a bearish bias
    ** More than 350,000 shares change hands by 1:28 p.m. IST,
0.6x 30-day avg
    ** Stock up 5.9% YTD

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))