October 30, 2018 / 6:12 AM / 20 days ago

BUZZ-India's Chennai Petroleum drops as expenses hurt Q2 profit

** Shares of state-run Chennai Petroleum Corp Ltd drop as much as 6.75 pct to 245.15 rupees, mark biggest intraday pct loss in more than three weeks

** Co reported on Monday its Sept-qtr profit plunges about 93 pct to 236.1 mln rupees ($3.21 mln)

** Total expenses surged to 150.05 bln rupees from 99.99 bln rupees, hurt by forex loses and input costs that nearly doubled in the qtr

** Nearly 1 mln shares change hands, as of 0546 GMT, 1.4 times their 30-day moving avg of 679,444 shares

** Co’s market cap down by about 2.64 bln rupees since last close

** Up to last close, stock down about 39 pct this year

$1 = 73.5700 Indian rupees

0 : 0
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