India's Speciality Restaurants falls on Q3 profit slide

Speciality Restaurants

18/01/2024 06:50

** Shares of Speciality Restaurants  SPRE.NS  trim losses to
trade 4.1% lower at 210.9 rupees; shares had fallen as much as
7.1% earlier in the session
    ** The restaurants operator says its Q3 consol net profit
fell 10% y/y, hit higher expenses and a one-time tax charge; rev
from ops rose 11.8% 
    ** Stock set for worst one-day fall since Aug. 11 
    ** SPRE moved below its 200-day simple moving avgs on Jan 18
    ** Trading vol is 1.7x the 30-day daily avg
    ** Stock fell ~18% in 2023 after rising for two consecutive
years


($1 = 83.1200 Indian rupees)

 (Reporting by Anuran Sadhu)
 ((Anuran.Sadhu@thomsonreuters.com ;))