India's Sleepwell mattress maker down as rising costs weigh on Q3 profit

Sheela Foam

03/02/2022 07:35

** Shares of Indian Sleepwell mattress maker Sheela Foam Ltd
 SHEF.NS  fall as much as 5.4% to 3,220.05 rupees
    ** SHEF on Wednesday posted a 32.6% fall in Dec-qtr
consolidated net profit to 668.7 mln rupees ($8.94 mln); rev
from ops rose 6.7% to 8.81 bln rupees  urn:newsml:reuters.com:*:nFWN2UD0QC
    ** SHEF qtrly profit hurt by a 14.9% increase in total
expenses, including a 7% rise in cost of materials  
    ** "During the quarter, the prices of the key raw materials
of TDI (toluene diisocyanate) and Polyol remained highly
volatile and increased on a QoQ basis, with TDI prices reaching
an all time high" - SHEF presentation https://bit.ly/3s9vd77
    ** "The increase in raw material prices combined with
increase in sales and marketing expenses impacted the overall
margins and profitability in the quarter," says Co
    ** SHEF stock rose 85.6% in 2021



($1 = 74.8330 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))