India's Everest Industries slips after Q1 profit fall

Everest Industries

02/08/2024 08:16

** Shares of Everest Industries Ltd  EVRI.NS  fall as much
as 5.8% to 1,132.55 rupees
    ** Building products maker reported a 9.5% fall in Q1 consol
profit to 159.1 mln rupees ($1.90 mln) 
    ** Cost of raw materials rose 14.2% y/y and rev from ops
increased 7.9% y/y
    ** Stock on track to lose for third straight day and 4th
week
    ** More than 35,000 shares traded as of 12:42 p.m. IST, 2.1x
their 30-day moving avg
    ** EVRI last down 3.65, adding to YTD losses of 15.8% so far

($1 = 83.7275 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))