India's Rain Industries down 5% on slide in Q4 earnings

Rain Industries

10/05/2023 09:35

** Shares of Rain Industries Ltd  RAID.NS  fall as much as
5.61%, steepest intraday pct fall in over four months, to 148
rupees
    ** Carbon and other advanced materials maker posts 62% Y/Y
slide in Q4 consolidated net profit to 1.05 bln rupees
    ** Core profit falls nearly 33% to 5.34 bln rupees while
core profit margin contracts to 10.1% in March quarter compared
to 17.8% in the corresponding quarter, a year ago
    ** Trading volume is 7.85 mln shares as of 1:58 p.m. IST,
more than seven times the 30-day avg - Refinitiv data
    

    ($1 = 81.7800 Indian rupees)
    

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