India's Vardhman Textiles hits one-month low on Q3 profit fall

Vardhman Textiles

25/01/2023 07:52

** Shares of India's Vardhman Textiles Ltd  VART.NS  fall as much as 5.47%
to 293.60 rupees, lowest since Dec. 26, 2022
    ** Sharpest intraday pct loss since Dec. 22
    ** Textile products maker on Wednesday reported a 76.1% fall in its
consolidated net profit to 1.02 billion rupees ($12.49 million)
    ** Revenue from operations fell 8.9% to 23.70 billion rupees from 26.03
billion rupees a year ago 
    ** VART said its total expenses rose 10.2% YOY to 23.11 billion rupees 
    ** More than 200,000 shares change hands by 12:50 p.m. IST, 0.9X the 30-day
avg
    ** Stock down ~28.8% last year 
($1 = 81.6375 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))