Kohinoor Food drops after dismal Q3 performance

Kohinoor Foods dropped 5.72% to Rs 65.10 after the company reported consolidated net loss of Rs 13.86 crore in Q3 FY23 as compared to net profit of Rs 0.40 crore in Q3 FY22.

Net sales declined 25.7% to Rs 16.81 crore in Q3 FY23 as against Rs 22.61 crore in Q3 FY22.

Total Expense jumped 39.41% to Rs 31.20 crore in Q3 FY23 as compared with Rs 22.38 crore in Q3 FY22. Cost of material consumed stood at Rs 5.99 crore (down 15.99% YoY), employee benefit expense was at Rs 1.38 crore (down 15.85% YoY).

Kohinoor Foods is a leading Basmati Rice player and has a Rice mill situated at Murthal, Sonepat. It also owns a food factory situated at Bahalgarh, Sonepat. The products of the company are known for superior quality and are popular worldwide.

 

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