India's Sutlej Textiles down 7% after reporting swing to loss

Sutlej Textiles and Industries

05/05/2023 09:57

** Shares of Sutlej Textiles and Industries Ltd  SUTI.NS 
fall as much as 7.4% to 48.6 rupees, biggest intraday pct. loss
since March 28 
    ** Textile manufacturer posted March-qtr consol. loss of
238.5 mln rupees ($2.92 mln) vs profit of 516.4 mln rupees yr
ago, hurt by lower revenue in its yarn and home textile segments
    ** Co's rev from ops fell 19.7% to 7.44 bln rupees
    ** Stock trading below its 100-, and 200-day moving averages
    ** Trading volume at ~108,000 shares, at par with 30-day
avg. as of 2:00 p.m. IST 
    ** Stock last down ~20% YTD



($1 = 81.7150 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))