India's GMM Pfaudler falls on slide in Q3 profit

Gmm Pfaudler

03/02/2023 05:09

** Shares of GMM Pfaudler  GMMP.NS  fall  as much as 4.29%
to 1,540 rupees, a one-week low
    **Engineering equipment supplier for pharma and chemical
industries reported a 41% YoY slump in Q3 profit to 186.7 mln
rupees, post market hours on Thursday
    ** Company says commodity and energy costs continue to
remain a concern, but remains on track to meet revenue guidance
    ** Trade volume of about 88,000 shares as of 10:15 a.m. IST,
~0.7x the 30-day avg
    ** All four analysts tracking the company rate it "strong
'buy;' median TP is 2,420 rupees
    ($1 = 82.1300 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))