India's Galaxy Surfactants slumps on Q4 profit fall

Galaxy Surfactants

24/05/2023 06:51

** Shares of specialty chemicals manufacturer Galaxy
Surfactants Ltd  GALX.NS  down as much as 6.66% at 2,420.55
rupees, their lowest level since April 12
    ** Co logs sharpest intraday pct loss since August 2020
    ** GALX reported 8% Y/Y fall in its consolidated profit
after tax for the quarter ended March 31, at 905.3 million
rupees ($11.07 million)
    ** Consolidated revenue from operations fell 7.5% Y/Y
    ** Brokerages bullish on co, with eight out of 10 firms on
the co rating stock a "buy" or above, two rate it a "hold",
their median PT is 2,875.5 rupees - Refinitiv 
    ** About 34,339 shares change hands as of 11:10 a.m. IST, vs
1.6x 30-day average of 21,822 shares 
    ** Stock up 5.49% YTD as of last close

($1 = 81.7800 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))