India's Apar Industries surges as net profit more than triples in Q3

Apar Industries

31/01/2023 08:33

** Shares of Apar Industries  APAR.NS  rise as much as
18.45%, most in over eight months, to 1,665 rupees
    ** The transformer maker's consolidated net profit more than
tripled in the third quarter to 1.7 bln rupees, while revenue
also surged
    ** Core profit margins expanded to 8.8% in Q3 from 5.20% in
the same period, a year earlier
    ** Co says it registered volume growth across all three
divisions -  conductor, speciality oils and cables, and expects
to benefit from infrastructure spends, renewable energy push and
China+1 shift
    ** About 619,023 shares change hands as of 1:50 p.m. IST,
4.8x the 30-day avg of 131,140 shares
     ($1 = 81.6970 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))