India's HPL Electric & Power falls most in 1-1/2 months on profit drop

HPL Electric & Power

15/02/2023 07:34

** Shares of HPL Electric & Power Ltd  HPLE.NS  fall as much
as 6% to 86.5 rupees, biggest intraday pct. loss since Dec. 23
    ** Electric equipment maker reports 31% fall in Dec-qtr
profit to 63.6 mln rupees ($767,652) hit by input costs and
lower revenue in its consumer & industrial segment
    ** Revenue from operations rises 7.7% to 3.02 bln rupees 
    ** Stock trading below its 50-day and 100-day moving
averages
    ** More than 330,000 shares change hands by 12:45 p.m. IST,
vs 30-day avg of ~387,000 shares
    ** Stock was up 42.4% last year
($1 = 82.8500 Indian rupees)
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))