Bharat Gears falls after Q1 loss

Reuters August 7 | Updated on August 07, 2019

Shares of Bharat Gears Ltd were down as much as 8 per cent to Rs 64.1 on Wednesday.

The gear manufacturer posted a June-quarter loss of Rs 703 crore ($991,187.87) versus a profit of Rs 3.41 crore a year earlier. Revenue fell ~22 per cent to Rs 115 crore.

The company's est PE of 2.93 was well below the sector average of 8.21.

Up to last close, the stock was down 56 per cent this year ($1 = 70.9250 rupees)

Published on August 07, 2019

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