Venky's slips 6% on weak March quarter results, stock nears 52-week low

The company reported 41.5 per cent YoY decline in net profit at Rs 29.94 crore in March quarter, due to higher raw material costs.

Venky’s (India) shares slipped 6 per cent to Rs 1,820 on BSE in the intra-day trade on Friday after the company reported 41.5 per cent year on year (YoY) drop in its net profit at Rs 29.94 crore in March quarter (Q4FY19), due to higher raw material costs. It was the third straight quarterly decline in net profit for the company.

The stock of packaged foods company was trading close to its 52-week low of Rs 1,788 hit on July 19, 2018 in the intra-day trade.

The company’s operational revenue grew 11.7 per cent at Rs 829 crore on