India's Electrosteel Castings falls most in over 8 months on qtrly profit drop

Electrosteel Castings

14/11/2022 05:14

** Shares of pipeline solution provider Electrosteel
Castings Ltd  ELST.NS  fall as much as 11.3% to 39.10 rupees,
their sharpest intra-day pct loss since Feb. 24  
    ** Co late on Friday posted a 20.2% fall in Sept-qtr consol
net profit to 528.5 million rupees ($6.52 million) from 662.2
mln rupees year ago  urn:newsml:reuters.com:*:nFWN3274OV
    ** Consol total expenses surged 56.6% to 17.29 bln rupees,
with cost of materials consumed making 10.39 bln rupees of it
    ** Above 2.9 mln shares traded as of 0509 GMT, vs their
30-day avg of more than 2.3 mln shares
    ** Shares up 21.5% YTD as of last close
($1 = 81.0900 Indian rupees)
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))