India's Bharat Gears falls after Q1 loss

Bharat Gears

07/08/2019 06:49

** Shares of Bharat Gears Ltd  BGRS.NS  down as much as 8%
to 64.1 rupees
    ** The gear manufacturer posted June-qtr loss of 70.3 mln
rupees ($991,187.87) versus a profit of 34.1 mln rupees a year
earlier  urn:newsml:reuters.com:*:nFWN2520ML
    ** Revenue fell ~22% to 1.15 bln rupees
    ** Co's est PE of 2.93 well below sector avg of 8.21
    ** Up to last close, stock down 56% this year

($1 = 70.9250 Indian rupees)

 (Reporting by Harish Bhaskar in Bengaluru)
 ((Harish.Bhaskar@thomsonreuters.com; +91 9886782831; Reuters
Messaging: harish.bhaskar.thomsonreuters.com@reuters.net))