Venky's India Swings to a Loss in Second Quarter on Weak Poultry Pricing
Venky's India swung to a loss in the second quarter as lower pricing in its poultry business led to shrinking margins, sending shares down 7.4% after the results.
The Pune-based poultry firm reported a net loss of 265.3 million rupees in the quarter ended September 30, compared to a profit of 77.6 million rupees a year ago.
The stock is set for its worst one-day drop in a year, if losses hold.
Venky's poultry and poultry products business has been impacted
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