India's VA Tech Wabag slumps on Q4 profit fall

VA TECH WABAG

22/05/2024 08:31

** Shares of water treatment services firm VA Tech Wabag
 VATE.NS  down 5% to 946.5 rupees
    ** Co reports 16% fall in Q4 standalone profit before
exceptional items and tax
    ** It had one-time charge of 2.43 bln rupees in the previous
year
    ** Expenses surged over 7%, rev from ops grew 3%
    ** Stock on track to log steepest one-day pct fall since Dec
    ** Over 1.5 mln shares traded, 1.7x the 30-day avg
    ** Including session's losses, stock up ~51% YTD

($1 = 83.2362 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))