Wiley India | CCL Products shares fell more than 7 percent intraday Wednesday after disappointing earnings performance of the company in April-June quarter.
Wiley India | Profit during the quarter plunged 32.9 percent to Rs 27.03 crore compared with Rs 40.3 crore in year-ago quarter, largely hit by weak operational performance.
Wiley India | Revenue from operations also fell 1.9 percent to Rs 246.8 crore from Rs 251.5 crore on year-on-year basis, the company said in its filing.
Wiley India | Weak quarter as Margins dented due to higher cost of raw materials
Wiley India | Operating profit margin contracted to 18.5 percent in June quarter 2017 from 24.9 percent in same quarter last year due to higher cost of raw material and employee expenses. Gross margin during the quarter slipped to 37.6 percent from 43 percent YoY.
Wiley India | Founded in 1994, CCL Products is engaged in the manufacturing of instant coffee products.
Wiley India | At 10:03 hours IST, the stock price was quoting at Rs 278.55, down Rs 12.25, or 4.21 percent on the BSE.
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