Plastiblends India slides to 3-wk low after Q3 net profit falls

Plastiblends India

13/01/2023 05:46

** Shares of Plastiblends India  PLST.NS  fall as much as
4.24% to 172.90 rupees, lowest in three weeks
    ** The company, which makes and exports compounds for the
plastic processing industry, reported a 67% decline in net
profit for the third quarter 
    ** Revenue from operations rose 7% Y/Y while EBITDA fell 60%
to 79.58 mln rupees ($977,821.47), compared to 200.95 mln rupees
Y/Y
    ** Co's EBITDA margin contracted to 4.28% from 11.54% in the
same period last year
    ** Trading volume is 18,911 shares as of 11:07 a.m. IST,
nearly the same as the 30-day avg of 19,897 shares
($1 = 81.3850 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))