India's Kolte-Patil Developers down after Q2 net loss widens

Kolte-Patil Developers

06/11/2023 08:04

** Shares of real estate co Kolte-Patil Developers  KOLT.NS 
fall as much as 9% to 467.3 rupees 
    ** Co reported widening of consolidated net loss in Sept-qtr
to 253.1 mln rupees ($3.04 million) from a loss of 87.9 mln
rupees a year ago
    ** Total expenses rose 53.05% to 2.2 bln rupees, dragged by
cost of services, construction, and land which rose nearly 51%  
 
    ** Over 829,000 shares traded as of 1:27 pm IST, 2.9X the
30-day moving average
    ** Stock currently down 4%, trimming YTD gains to 76.5% 

($1 = 83.1740 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))