India's Avantel gains on Q2 profit rise

Avantel

07/10/2024 05:59

** Shares of Avantel  AVAN.NS  rise as much as 12.7% to 201
rupees, their highest since Aug. 1
    ** Communications and networking services provider reported
a 43% rise in Sept-qtr consolidated net profit and rev from ops
    ** Co helped by surge in demand for its core communications
and signal processing products
    ** More than 3.2 mln shares change hands, 4.5x its 30-day
avg
    ** Stock has dipped 1% since listing in July


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))