India's AGS Transact falls to record low on solvency concerns

AGS Transact Technologies

18/02/2025 05:18

** AGS Transact Technologies  AGST.NS  falls
exchange-allowed max of 5% to a record low of 28.6 rupees
    ** Stock set for 14th straight session of declines, its
longest losing streak since listing in January 2022
    ** Payment solutions operator among India's largest players
in cash management space, with 15% market share
    ** Lenders expected to classify AGST as non-performing
asset, which will open it up to the threat of insolvency,
MoneyControl reports
    ** Co's Q3 consol net loss widens to 1.94 bln rupees ($22.3
mln) vs year-ago loss of 153.8 mln rupees; rev from ops down 44%
y/y
    ** Says co faced liquidity challenges in nine months ended
Dec. 31, 2024; adds lower rev impacted liquidity, operations
    ** AGST drops 56% so far this year

($1 = 86.9425 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))