India's Johnson Controls hits over 7-yr low on wider Q1 loss

Bosch Home Comfort India

27/07/2023 06:49

** Shares of Johnson Controls-Hitachi Air Conditioning India
 JCHA.NS  fall as much as 8.6% to 958.85 rupees, their lowest
since Feb. 29, 2016
    ** Co on Wednesday posted a loss of 410.2 mln rupees ($5
mln) for June qtr versus yr ago loss of 19.7 mln rupees
    ** Rev from ops fell ~44% YoY to 5.67 bln rupees
    ** Over 141,000 shares change hands by 11:13 a.m. IST, 5.3x
the 30-day moving avg
    ** As of last close, stock down ~5% so far this year

($1 = 82.0000 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))