Venky's India slips 10% on disappointing Q2 results

The stock slipped 10% to Rs 2,541 after the company reported 80% drop in profit at Rs 55 million, due to lower realizations from the sale of grown-up broilers and broiler day-old chicks.

Shares of Venky’s India has slipped 10% to Rs 2,541 per share on the BSE in afternoon deals after the company reported 80% year-on-year (Y-o-Y) drop in its net profit at Rs 55 million in September quarter (Q2FY19). It had a profit of Rs 271 million in the year-ago quarter and Rs 710 million in the previous quarter.

The net profit during the quarter was the lowest in the past two years. The profitability of the company was affected during this quarter, due to lower realizations from the sale of grown-up broilers and broiler day-old chicks.

The company’s revenue