India's SRF falls to near 2-year low as quarterly profit misses analysts estimate

SRF

Today 07:24

** India's SRF SRFL.NS falls 5.5% to 2,178.3 rupees, lowest since November 22, 2024
** Chemicals maker set for fifth straight session of losses
** Co on Wednesday reported 31.2% jump in Q2 profit, while revenue rose 35%
** Brokerage firms Jefferies and Motilal Oswal say profit missed their estimates due to weak operating margins in chemicals business
** Jefferies says chemicals segment earnings before interest and tax was 9% below its estimate due to margin pressure in specialty chemicals
** Co also announced new capex of 6 billion rupees for an aluminium foil manufacturing facility
** SRFL rated "hold" on average by 27 brokerage firms, median PT at 3,001 rupees, per data compiled by LSEG
** YTD, stock down 27.6%

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))