India's Visaka Industries hits 4-month low after Q4 profit drops

Visaka Industries

16/05/2024 08:06

** Shares of Visaka Industries  VSKI.NS  fall as much as
3.8% to 98.05 rupees, lowest since Jan. 10
    ** VSKI, which makes cement sheet, solar panels, synthetic
yarn on Wednesday reported 73.6% Y/Y fall in consolidated net
PAT for Q4 while revenue from ops fell 12.5% Y/Y
    ** Revenue from VSKI's mainstay business, building products,
which forms almost 90% of co's quarterly revenue fell 10.4%
during Q4
    ** Trading vol 1x 30-day daily avg
    ** Stock rose 23.2% in March quarter, its biggest quarterly
rise since June 2023
    ** Stock down 7.6% so far in June-quarter

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))