India's Swan Defence and Heavy industries falls as Q2 EBITDA loss widens
BUZZ-India's Swan Defence and Heavy industries falls as Q2 EBITDA loss widens ** Shares of India's Swan Defence and Heavy Industries SWAE.NS fall 2% to 2,870 rupees
** Shipbuilding co says quarterly EBITDA loss widened to 170.2 million rupees ($1.79 million) from 79.7 million rupees a year ago
** Co says investment in workforce expansion and rise in operational costs for project execution weighed on profitability
** SWAE says second quarter revenue rose about 74% to 688.5 million rupees from 395.7 million rupees in the same quarter last year
** Expects domestic demand for shipbuilding to rise over next 12 to 18 months driven by Indian government's support for commercial shipbuilding and defence programmes** YTD stock more than doubled, up 107.10%
($1 = 95.2550 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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