India's Elecon Engineering down on Q2 profit fall

Elecon Engineering

18/10/2024 08:46

** Shares of industrial machinery manufacturer Eelecon
Engineering  ELCN.NS  drop 9.5% to 653 rupees
    ** Co's September qtr consolidated net PAT fell to 877.2 mln
rupees ($10.4 mln) from 885.7 mln rupees year ago on higher
expenses
    ** Consolidated rev rose 4.8% YoY, and total expenses rose
7.6% YoY
    ** Stock on track for second straight session of losses
    ** ELCN gained ~39% so far this year
    
($1 = 84.0410 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))