India's Cera Sanitaryware rises on Q3 profit beat

Cera Sanitaryware

02/02/2023 08:05

** Shares of tiles maker Cera Sanitaryware Ltd  CERA.NS 
rise as much as 2.9% to 5500 rupees
    ** Co reports a 33% rise in Dec-qtr consolidated net profit
to 564.2 million rupees ($6.89 million) beating analysts'
estimates of 497 million rupees, according to Refinitiv IBES
data
    ** Consol revenue from operations rose 18% to 4.58 billion
rupees
    ** Co's core profit rose in the third quarter while core
profit margins expanded to 16.38% from 16.24%, in the same
period, a year ago    
    ** More than 13,350 shares change hands by 1:14 p.m. IST,
1.6x 30-day avg of 8364 shares
    ** Eight of the 12 analysts covering the stock have a "buy"
or "strong buy" rating while four have "hold"; median PT is 6050
rupees - Refinitiv data
    ** Stock up 2.6% so far this year, up to last close
($1 = 81.8850 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))