India's Honasa Consumer tumbles 20% after posting loss in Q2
18/11/2024 04:31
** Shares of Honasa Consumer HONA.NS fall an
exchange-allowed maximum of 20% to a record low of 297.3 rupees
** The beauty products retailer posted a consolidated net
loss of 185.8 mln rupees ($2.20 mln) vs a profit of 294.4 mlm
rupees a year ago; rev from ops down ~7% Y/Y
** Co hurt by inventory correction and bleak demand during
the quarter
** Five analysts covering the stock cut stock's PT after
results, while avg rating of 12 analysts still at "buy"; median
PT is 540 rupees - LSEG data
** Stock down 25% so far this month, on track for biggest
monthly fall since listing a year ago
($1 = 84.3850 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))
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