India's Somany Ceramics dips after Q3 profit fall

Somany Ceramics

07/02/2025 04:50

** Shares of Somany Ceramics Ltd  SOCE.NS  fall as much as
4.2% to 484.05 rupees   
    ** Tiles maker reported a 58.1% fall in Q3 consol net profit
to 92.9 mln rupees ($1.1 mln), rev grew 5.1% to 6.4 bln rupees 
    ** Weak domestic volumes with higher operating expenses
drags profitability - Asian Markets Securities
    ** Co reported a single digit percentage tiles volume growth
in Q3 on the back of tepid retail demand, rising competition,
slower-than-expected pickup in govt capex - brokerage
    ** Stock on track to fall for 9th straight week and 4th
straight day
    ** Mean rating of analysts on the stock is 'strong buy';
their median PT is 746 rupees - data compiled by LSEG 
    ** SOCE last down 1.4%, adding to YTD losses of 20.9%


($1 = 87.4500 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))