India's Gujarat Fluorochemicals down as Q1 profit slips

Gujarat Fluorochemicals

07/08/2023 05:06

** Shares of Gujarat Fluorochemicals  GUJL.NS  fall as much
as 2.5% to 2,735.7 rupees, biggest pct loss since July 12
    ** Co reports 34% drop in Q1 consolidated net profit to 2.01
bln rupees ($24.30 mln), rev from ops fall 9.4% Y/Y
    ** EBITDA margins fall to 29% in Q1FY24 against 34% in
Q1FY23
    ** Stock trading below moving average convergence divergence
line (MACD), indicating bearish sentiment
    ** Analysts covering GUJL on average have a "strong buy"
rating; median PT is 4,342 rupees - Refinitiv data
    ** Stock down 9.8% YTD up to last close



($1 = 82.7300 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))