India's Sanghi Industries falls 5% after reporting Q4 loss

Sanghi Industries

18/05/2023 08:22

** Shares of Sanghi Industries Ltd  SNGI.NS  lose 5%,
steepest intraday fall in nearly two months, to 71.35 rupees
    ** Slide after cement maker reports net loss of 1.05 bln
rupees ($12.84 million) in March quarter compared with net
profit of 63.2 mln rupees Y/Y, dragged by weakness in sales
    ** Revenue from operations falls 36% to 2.26 bln rupees from
3.55 bln rupees a year earlier
    ** Co also posts operational loss of 126.4 mln rupees
    ** Trading volume is 1.42 mln shares as of 12:45 p.m. IST,
2.3 times the 30-day avg - Refinitiv data



($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))