India's Greaves Cotton tumbles on June-quarter loss

Greaves Cotton

10/08/2023 09:59

** Shares of Greaves Cotton  GRVL.NS  down as much as 7.69%
to a more than two-month low of 129 rupees
    ** Engineering firm posts net loss of 50.8 mln rupees in
June qtr, compared to profit of 160.7 mln rupees a year ago
    ** Consolidated revenue falls ~14%
    ** Revenue in electric mobility segment, which accounts of
23% of total revenue, down 54% YoY
    ** Trading volume at ~4.2 mln shares as of 2:16 p.m. IST,
3.4x the 30-day avg -Refinitiv data
    ** GRVL down 6.42% in 2023 so far, compared to 9.65% rise in
Nifty 500 index  .NIFTY500 

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