India's Polyplex hits near 3-year low on sharp profit drop

Polyplex

15/02/2024 09:13

** Shares of Polyplex Corp  PLYP.NS  fall as much as 3.9% to
925.70 rupees, lowest level since May 3, 2021
    ** Packaging film products maker on Wednesday reported 88.1%
Y/Y drop in Q3 consolidated net profit
    ** Rev from ops fell ~20% Y/Y, marking fourth straight drop 
  
    ** Trading vol 1.8x the 30-day daily avg    
    ** Including session's loss, stock down 11.5% this year
    ** Stock fell 32.6% last year after an 11.8% drop in 2022

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