India's Electrosteel Castings loses 5% after Q4 earnings slide

Electrosteel Castings

18/05/2023 09:00

** Shares of Electrosteel Castings Ltd  ELST.NS  shed as
much as 5.59%, steepest intraday pct fall in five months, to
43.90 rupees
    ** Slide after the iron pipes maker reports 21% Y/Y fall in
March quarter profit; A 24% jump in costs offset 19% rise in
revenue  
    ** Core profit fell to 1.93 bln rupees from 2.17 bln rupees
a year ago
    ** Trading volume is 5.95 mln shares as of 1:23 p.m. IST,
2.5 times the 30-day avg - Refinitiv data

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