India's GNA Axles down on Dec-qtr profit drop

Gna Axles

10/01/2022 08:24

** Shares of the auto parts maker  GNAA.NS  fall as much as
6.6% to 703 rupees, marking their biggest intraday pct loss
since Dec. 20 
    ** GNAA stock hits lowest since Dec. 30, down for a second
straight session     
    ** Co reports https://bit.ly/3tafI0P December-quarter
consolidated profit of 166.7 mln rupees ($2.25 mln), a decrease
of 37.4% y-o-y on higher expenses
    ** GNAA posts December-quarter revenue from operations of
3.01 bln rupees vs 2.76 bln rupees a year ago
    ** More than 212,000 shares traded by 0806 GMT, 4.9 times
their 30-day avg
    ** Two of five brokerages rate the stock "buy" or higher,
three "hold"; their median PT is 721 rupees
    ** GNAA gained 168.1% last year

($1 = 74.1675 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))