India's Anupam Rasayan at over 1-mth high on qtrly profit rise

Anupam Rasayan India

28/10/2022 06:10

** Shares of industrial chemicals manufacturer Anupam
Rasayan India Ltd  ANUY.NS  rise as much as 5.2% to 823 rupees,
highest since Sept. 22
    ** Co on Thursday said its September qtr consolidated net
profit rose to 415.7 mln rupees ($5.05 million) from 360.5 mln
rupees a year earlier, helped by a jump in revenue and better
core earnings  urn:newsml:reuters.com:*:nFWN31S6BQ
    ** ANUY's Q2 rev from ops was up more than 1.5x y/y at 3.86
bln rupees, while earnings margin before interest, taxes,
depreciation and amortization (EBITDA) expanded 177 bps
    ** "We continue to see upward bias in all the contracted
volumes with major customers" - ANUY MD Anand Desai
    ** Shares on track for fourth consecutive session of gains
    ** More than 632,000 shares change hands by 0457 GMT, 3.1x
30-day avg of 205,705 shares
    ** All seven analysts covering the stock have a "buy" or
"strong buy" rating; median PT is 941 rupees - Refinitiv data
    ** Stock down 21.1% so far this year, up to last close
($1 = 82.3350 Indian rupees)
($1 = 82.3475 Indian rupees)
 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))