India's Bikaji Foods surges on qtrly profit rise

Bikaji Foods International

24/05/2023 07:35

** Shares of fast-moving consumer goods company Bikaji Foods
International  BIKA.NS  up as much as 4.78% at 403 rupees,
highest since Jan. 31
    ** Co hits sharpest intraday pct gain since May 17, on track
for second consecutive session of gains, if trends hold
    ** BIKA reports 51.7% Y/Y rise in consolidated net profit to
377 mln rupees ($4.61 mln) for the quarter ended March 31     
    ** Consolidated total revenue from operations up 15.5% Y/Y
    ** About 567,685 shares change hands as of 11:55 a.m. IST,
1.6x the 30-day average 
    ** Stock down 11.8% YTD as of last close

($1 = 81.7800 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))