Venky’s India has slumped 8% to Rs 436 after its net profit plunged by 81% on year-on-year (yoy) basis at Rs 2.93 crore for the quarter ended December due to higher expenditure. The company engaged in packaged food business had a net profit of Rs 15.18 crore in year earlier.

Total operating expenditure increased by 30% at Rs 245 crore, while interest cost rose more than three-fold at Rs 3.37 crore during the recently concluded quarter. However, net sales grew 19% at Rs 250 crore on y-o-y basis.

The poultry and poultry products segment registered lower profits due to high cost of feed ingredients and lower realization from sale of day old chicks and grown up birds, the company said in a filing to the stock exchanges.

A combined 237,326 shares have changed hands on the counter till noon deals, against an average around 100,000 shares that were traded daily in past ten trading days on both the exchanges.