India's GMM Pfaudler eyes worst day in about 2 years on Q2 profit fall

Gmm Pfaudler

08/11/2024 04:46

** Shares of GMM Pfaudler Ltd  GMMP.NS  drop 7% to 1,283.60
rupees, set for their worst session since Dec. 2022
    ** Industrial equipment maker's Q2 consol net profit tanked
74% on weak spending by key chemical and pharma clients; rev
fell 14%
    ** GMMP's profit drop is steepest in 13 quarters, per LSEG
data, while rev is down for second straight quarter
    ** Stock extends YTD losses to 20%


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))