India's Sanghi Industries up after reporting narrower Q4 loss

Sanghi Industries

29/04/2024 08:24

** Shares of Sanghi Industries  SNGI.NS  rise as much as
6.4% to 98.85 rupees; last up 3% 
    ** The cement manufacturer reported a narrowed loss before
exceptional items and tax of 53 mln rupees ($635,244.06) from
loss of 1.05 bln rupees in the previous year
    ** Sale of products rose nearly 27% Y/Y 
    ** Co recorded one-time exceptional item related to interest
on custom duty dues worth 137.2 mln rupees during the quarter
    ** Including session's move, stock is down 24.7% YTD
    ** Stock had gained 81% in 2023, its best yearly gain since
2017
    


($1 = 83.4325 Indian rupees)

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