India's Saurashtra Cement hits 6-wk low as qtrly loss triples

Saurashtra Cement

02/11/2022 07:14

** Shares of Saurashtra Cement Ltd  SAUR.BO  fall as much as
5.8% to 58 rupees, their lowest since Aug. 17
    ** Sept-qtr net loss more than triples Y/Y to 225.5 mln
rupees ($2.7 mln), the cement company reported late Tuesday
    ** Total expenses surged 15.6%, with power and fuel costs
accounting for the biggest chunk of expenses
    ** Over 27k shares traded as of 0706 GMT, 1.5X their 30-day
moving avg
    ** Stock last down 4.2%, taking YTD losses to ~17%
 
 ($1 = 82.7630 Indian rupees)
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))