India's CG Power slips on Q2 profit drop

CG Power and Industrial Solutions

21/10/2024 11:08

** CG Power and Industrial Solutions  CGPO.NS  slip 6% to
close at 775.60 rupees
    ** Co's Q2 consol net profit drops 9% y/y vs 18% rise in Q1,
hurt by higher share of less-profitable businesses
    ** Stock was up 2.3% before reporting results
    ** Over 10.1 mln shares traded, ~3x the 30-day avg
    ** Stock rated "hold" on avg - LSEG
    ** CGPO trims YTD gains to ~71%

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))