India's Polyplex Corporation falls more than 8% on Q4 profit plunge

Polyplex

24/05/2023 05:27

** Shares of Polyplex Corporation Ltd  PLYP.NS  fall as much
as 8.5% to 1,389.90 rupees; mark sharpest intraday pct loss
since May 11, 2022
    ** Co on Tuesday reported ~96% Y/Y drop in Q4 consolidated
net profit and 11.6% fall in revenue from operations
    ** The packaging film products maker also recommended a
final dividend of 3 rupees per share for FY24
    ** Share price below 100-day and 200-day exponential moving
averages but above 50-day EMAs
    ** More than 390,000 shares change hands by 9:43 a.m. IST,
2.1x 30-day avg of 184,320 shares
    ** Including session's loss, stock down 10% YTD


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