India's Sheela Foam falls on Q1 profit drop

** Sheela Foam NSE:SFL falls as much as 3.7% to 666.9 rupees

** Mattresses maker reports 83.9% y/y drop in Q1 consol net profit to 74.3 mln rupees ($846,916.68); rev grows 1.4%

** Says profit lower due to 100 mln-rupee mark-to-market loss on forex cover, 120 mln-rupee loss on government bonds

** More than 169,000 shares traded vs 30-day avg of 116,403

** SHEF last down 2.3%, taking YTD losses to 30.2%

($1 = 87.7300 Indian rupees)