India's Indosolar falls on weak Q2 profit
BUZZ-India's Indosolar falls on weak Q2 profit ** Shares of India's Indosolar INDL.NS fall 2.1% to 200.28 rupees
** Renewable energy equipment provider says September quarter net profit slumps 89% to 50.2 million rupees ($531,935) from 463.4 million rupees
** Co's total income for the quarter falls about 23% to 1.57 billion rupees from 2.03 billion rupees
** INDL says elevated raw material costs, geopolitical uncertainity, regulatory changes and lower capacity utilisation in solar manufacturing industry hurt quarterly performance
** Co says it aims to improve operational efficiencies, manufacturing capabilities in the long-term as current operating environment presents near-term challenges** Stock down 63.25% YTD
($1 = 94.3725 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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