India's Finolex Cables down 6% on Q4 profit slide

Finolex Cables

29/05/2023 10:15

** Shares of Finolex Cables Ltd  FNXC.NS  fall as much as
6.01% to 792.55 rupees, a two-month low
    ** Slide comes after the electrical cables maker reports 22%
fall in consolidated net profit in March quarter to 1.75 bln
rupees 
    ** Revenue up 3% at 12.24 bln rupees
    ** Trading volume is 590,830 shares as of 2:38 p.m. IST, 1.5
times the 30-day avg - Refinitiv data
    ** Of the seven analysts tracking FNXC, five maintain "buy"
and two suggest "hold"; median TP is 893 rupees
    

($1 = 81.7800 Indian rupees)

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