India's Varroc Engineering tumbles on third-quarter loss

Varroc Engineering

10/02/2025 09:25

** Auto parts maker Varroc Engineering's  VARE.NS  shares
slide 9.3% to 493 rupees, the lowest since Nov. 21, 2024
    ** Co reports Q3 net loss of 474.3 mln rupees ($5.41
million) from a year-ago profit of 3.83 bln rupees
    ** Earnings impacted by a one-off loss, including a 796.5
million rupees write-down of asset value following an
arbitration ruling
    ** Co's year-ago period profit was also propped up by a net
tax gain of 3.13 billion rupees
    ** Over 905,000 shares traded, over 2.5x their 30-day avg
    ** Stock rose 6% in 2024
 
($1 = 87.6000 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))