India's Kirloskar Electric declines on quarterly profit drop

Kirloskar Electric

05/11/2024 08:51

** Shares of Kirloskar Electric Company  KREL.NS  fall 5.4%
to 185.40 rupees, their steepest fall in nearly a month
    ** Stock last down 1.5%
    ** Electrical equipment maker's Q2 consol PAT drops 4% Y/Y,
hurt by a ~20% jump in expenses, even as rev. rises 11%
    ** KREL sees busiest day in nearly 2 months, with over
498,000 shares traded
    ** Stock up 74% YTD, its fifth straight year of gains

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))