There have been a drop in prices as well, which are down 34 per cent compared to last year.
The fall in demand has not been without a reason.
Asian Paints' profit before tax (PBT) increased by 20.9 per cent to Rs 1,022.62 crore from Rs 846.12 crore in the year ago period.
Net profit rises nearly 15 per cent, volume up 5 per cent.
Sector analysts pointed out that the international prices of pepper are down thanks to higher production in many countries compared with India.
Besides, it would also help in flushing out bad quality tea from the market.
We believe that the state government will need to appeal to state regulators and then seek consent from the courts to overturn the existing PPAs.
At present, nearly 25 per cent of ITC’s segment revenue comes from newer FMCG businesses under the non-cigarette portfolio.
LCCs has been the only successful airline industry model in India over the long term.
The alliance, called OPEC+, last week renewed the pact until March 2020 to avoid a build-up of inventories that could hit prices.