Plastiblends India jumps 3% to 4-month high on rise in Q4 core profit

Plastiblends India

04/05/2023 08:36

** Shares of Plastiblends India Ltd  PLST.NS  rise as much
as 3.21% to a four-month high of 180.10 rupees apiece
    ** Rise after thermoplastics and color and additives maker
reports 22.5% YoY rise in core profit in the March quarter to
177.95 mln rupees
    ** Core profit margin expands to 8.99% in Q4 from 6.63% in
the corresponding period a year ago
    ** Net profit and revenue fell 30% and 10% YoY in Q4, on
uncertainties in demand due to supply chain reorientation and
geopolitical crisis
    ** PLST also recommends a dividend of 4 rupees per share 
    ** Trading volume is 59,192 shares as of 1 p.m. IST, more
than quadruple the 30-day avg - Refinitiv data

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