India's Ramco Industries hits 2-1/2-year low on Dec-qtr profit fall

Ramco Industries

27/01/2023 08:30

** Shares of building materials maker Ramco Industries Ltd  RAMC.NS  fall as
much as 5.17% to 144 rupees, their lowest since June 15, 2020
    ** Stock marks sharpest intrday pct loss since Nov 9, 2022
    ** Ramco reported a 97.8% fall in its consolidated net profit to 8.4 mln
rupees ($102,968.94) on Friday  urn:newsml:reuters.com:*:nFWN34B2ZL
    ** Income from operations fell 10% to 3.03 bln rupees from 3.37 bln rupees a
year ago 
    ** Co reported a 237% rise in finance costs to 66.4 mln rupees from 19.7 mln
rupees a year ago
    ** Revenue from its building products and textiles segments fell YOY
    ** If losses hold, stock on course for fourth straight session of losses
    ** More than 76,703 shares change hands, 1x the 30-day avg 
    ** Stock down ~36.1% in the last year
     ($1 = 81.5780 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))