India's Vardhman Textiles sinks on fall in Q4 earnings

Vardhman Textiles

05/05/2023 09:14

** Shares of Vardhman Textiles Ltd  VART.NS  fall as much as
5.47% after co posts 51% fall in Q4 profit
    ** Stock posts steepest intraday decline in over three
months
    ** Revenue falls over 8%, while core profit plunges 47%
    ** Co also declares a dividend of 3.5 rupees per share
    ** Trading volume is 164,800 shares as of 1:33 p.m. IST,
0.7x the 30-day avg
    ** Avg rating of six analysts close to 'buy' with median PT
of 349.50 rupees, 6.25 above last close - Refinitiv data
    ** Including session's loss, stock cuts YTD gains to ~9.5%

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))