India's S H Kelkar And Co eyes worst day in over 1-1/2 yrs on profit drop

S H Kelkar And

01/11/2021 07:08

** Fragrance and flavours maker's shares  SHKE.NS  fall as
much as 8.7% to 145 rupees - set for worst day in more than
1-1/2 years
    ** S H Kelkar and Company reported a ~59% slump to 222.2
million rupees ($2.96 million) in its consolidated net profit
for the September quarter  urn:newsml:reuters.com:*:nFWN2RP1J8
    ** During the quarter, co continued to witness cost
pressures due to global inflation in raw materials 
    ** To efficiently mitigate cost pressures and to normalize
our operating margins, we are working with customers to
undertake further price hikes in future, said CEO Kedar Vaze 
    ** Co's board also approved the buyback of fully paid up
equity shares worth upto 609 million rupees 
    ** Despite session's losses, SHKE stock is still up over 19%
for the year

($1 = 74.9650 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))