India's Craftsman Automation loses 5% on Q4 core profit margin contraction

Craftsman Automation

08/05/2023 10:33

** Shares of Craftsman Automation Ltd  CRAF.NS  reversed
intraday gains of nearly 4% and logged losses of 5.03% to 3,115
rupees
    ** Intraday slide comes after diversified engineering
company reports March qtr contraction in core profit margin to
19.18% compared to 23.61% YoY
    ** Net profit rises 51% to 776.6 mln rupees in Q4 while
revenue from operations climbs 49% YoY to 9.80 bln rupees 
    ** Margin contraction due to sharp uptick (54% YoY) costs in
March quarter
    ** Trading volume is 116,781 shares as of 2:57 p.m. IST,
more than thrice the 30-day avg of 34,939 shares - Refinitiv
data
    ** Of the seven analysts tracking CRAF, six maintain "buy"
and one suggests "hold"; median TP is 3,851.50 rupees

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))