India's Cera Sanitaryware climbs 2.5% after Q4 profit surges

Cera Sanitaryware

10/05/2023 09:50

** Shares of Cera Sanitaryware Ltd  CERA.NS  rise as much as
2.5% to 6,739.90 rupees
    ** The sanitaryware and tiles maker on Wednesday reports
bigger-than-expected jump of 18.5% in consol net profit at 627.5
mln rupees ($7.67 mln) for the March-qtr
    ** Analysts expected CERA to report net profit of 599.7 mln
rupees - Refinitiv data
    ** Rev from ops at 5.33 bln rupees, up ~21% YoY
    ** CERA decided to incur capital expenditure of 290 mln
rupees for the financial year 2023-24
    ** Also declared dividend of 50 rupees per share
    ** About 39,700 shares change hands by 2:16 p.m. IST, 2.2x
the 30-day avg - Refinitiv Data
    ** Ten of the 15 analysts covering CERA have a "buy" or
higher rating, while five have "hold"; median PT is 6,310 rupees
- Refinitiv data
    ** Stock last up 1.4%, extending YTD gains to 28%


($1 = 81.7800 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))