India's BSL hits record high as profit jumps

BSL

10/11/2022 09:43

** Shares in BSL  BSLL.NS , which supplies furnishing
fabrics to furniture brand Ikea, rise as much as 20% to a record
high of 175.40 rupees in afternoon trading
    ** Profit jumped about 31% from a year earlier to 38.8
million Indian rupees ($474,432.03) for the September quarter,
with revenue from operations increasing about 14% to 1.33
billion rupees, BSL says in an exchange filing
    ** Shares, last up over 15%, are on course for their best
day in more than a month
    ** BSL earlier this year said a revival of export demand,
higher disposable income and rising popularity of larger
clothing stores in the country boded well for the Indian
textiles and apparel industry
    ** Through last close, shares had risen nearly 28% this year
($1 = 81.7820 Indian rupees)
 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))