India's MTAR Tech set for 2nd worst day ever on Q3 profit slump

MTAR Technologies

14/02/2024 06:54

** Shares of MTAR Technologies  MTAR.NS  down 11%, steepest
drop in five-session losing run
    ** Stock set for 2nd worst day since March 2021 debut
    ** Precision engineering co reports near 67% fall in Q3 net
profit to 104.5 mln rupees ($1.3 mln), rev down 26%
    ** Over 1.2 mln shares traded, 7.1x the 30-day avg
    ** MTAR down ~23% YTD after a 36.5% gain in 2023
 
 ($1 = 83.0840 Indian rupees)

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