India's Ajmera jumps 18% as quarterly profit nearly triples

Ajmera Realty & Infra India

11/11/2022 06:01

** Shares of real estate company Ajmera Realty & Infra Ltd
 AJME.NS  soar as much as 18.5% to 286 rupees, their biggest
intraday pct gain since June 24, 2021
    ** Co on Thursday reported that its consolidated profit
after taxes nearly tripled in the September quarter to 343
million rupees ($4.25 million), compared with 114.5 million
rupees a year earlier
    ** Co's residential projects of Manhattan in Mumbai and
Nucleus in Bengaluru were the key drivers to the quarterly
growth; contributed 64% and 15% to the sales value respectively 
    ** Revenue from operations grew 88.3% to 1.85 billion rupees
    ** Stock hits its highest since Sept. 13
    ** More than 429,000 shares change hands by 0546 GMT vs
30-day avg of 33,487 shares
    ** Stock down 14.1% YTD up to last close vs S & P BSE
SmallCap Index's  .SPBSSIP  1.93% fall
($1 = 80.6800 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))