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Hot Pursuit News

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(09 Nov 2023, 15:32)

KRBL drops after Q2 PAT slides 28% YoY

KRBL slumped 8.34% to Rs 356 after the company's consolidated net profit fell 28.07% to Rs 153.29 crore on 8.03% decrease in net sales to Rs 1213.39 crore in Q2 September 2023 over Q2 September 2022.

Profit before tax stood at Rs 206.85 crore in the Q2FY24, down 27.40% YoY and down 19.63% QoQ.

Total expenses fell 1.45% to Rs 1039.64 crore in Q2 FY24 over Q2 FY23. During the quarter, cost of materials consumed stood at Rs 724.17 crore (up 2.33% YoY) while employee benefits expense was at Rs 37.15 crore (up 22.73% YoY).

Net cash flow from operating activities stood at Rs 1759.03 crore as on 30 September 2023, higher than Rs 1137.41 crore as on 30 September 2022.

KRBL is a rice processing and exporting company, and the world's largest rice miller. It is best known for its India Gate brand of basmati rice, which is the largest selling rice brand in India.


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