India's Elgi Equipments falls on Q4 profit fall

ELGI Equipments

28/05/2024 09:23

** Shares of Elgi Equipments  ELGE.NS  fall 6% to 631.5
rupees, lowest since April 25
    ** The industrial machinery maker said on Monday its Q4
consol net profit fell 55% to 762.4 mln rupees ($9.17 mln)
    ** Co hurt by flat demand and a rise in expenses
    ** Analysts covering the stock on avg have a "sell" rating;
median PT is 625 rupees - LSEG data
    ** Stock down 6% so far in May



($1 = 83.1493 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))