India's Electrosteel Castings tumble after quarterly profit plunge

Electrosteel Castings

07/08/2025 08:39

** Shares of Electrosteel Castings ELST.NS fall 6.9% to 100.78 rupees, lowest level since May 9

** Stock on course for biggest daily decline since January 6, if losses hold

** Pipe maker posts 61% y/y drop in consol PAT to 89 million rupees ($1.01 million) for June quarter

** Co's total income declined 22.1% y/y due to temporary slowdown of Jal Jeevan Mission funding

** More than 3.8 mln shares traded, 1.7x times vs 30-day avg

** Stock down ~30% YTD

($1 = 87.7525 Indian rupees)

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com;))