India's Kolte-Patil Developers down 6% after Q3 loss

Kolte-Patil Developers

06/02/2023 08:28

** Shares of real estate co Kolte-Patil Developers  KOLT.NS 
fall as much as 5.8% to 261.3 rupees - its steepest intraday pct
decline since Dec. 23
    ** Stock touches lowest level since Jan. 13    
    ** Co reported Q3 consolidated net loss of 268.9 mln rupees
($3.26 million) from profit 53.7 mln rupees ($650,522.72) a year
ago
    ** Total expenses rose 83.5% to 4.11 bln rupees, led by a
near doubling of cost of services, construction, and land which
comprises 82% of total expenses
    ** Stock had climbed as much as 4.2% before reporting its
results and swinging to loss
    ** Over 439,000 shares traded as of 1:48pm IST, 1.1X the
30-day moving average
    ** Stock fell 7.9% last year
($1 = 82.5490 Indian rupees)
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))