India's chemical maker SRF falls on Q4 profit drop

SRF

07/05/2024 10:58

** Shares of SRF  SRFL.NS  fall 7.7% to 2,388.8 rupees,
lowest since March 14
    ** The chemicals and polymers maker said on Tuesday its Q4
consolidated net PAT fell ~25% to 4.22 bln rupees ($50.6 mln)
    ** Rev from ops down 5.5% Y/Y
    ** More than 2.08 mln shares change hands 3x its 30-day avg
    ** Twenty-five analysts covering the stock have a "buy"
rating; median PT is 2,597.5 rupees - LSEG data
    ** Stock down 2.4% so far this year



($1 = 83.4720 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))