In the morning trades, Huhtamaki India was among the top five losers on the BSE. It opened almost 3% lower at Rs.283 and went down 5% to an intraday low at Rs.275.80. Its 20% LC for the day is at Rs.233.
Though the total income of the company rose 9.5% (YoY) to Rs.638 crore, a 13.5% rise in raw material prices, led to the net profit coming in at Rs.162 crore, down over 40%.
The company, engaged in consumer packaging and labelling and 67.73% stake is held by Huhtavefa BV. 27 FIIs hold 4.2%.