India's Cosmo Films hits over 2-year high after Q3 profit more than doubles

Cosmo First

14/02/2020 07:31

** Shares  CSFL.NS  of Indian manufacturer of films used in
packaging, lamination applications rise as much as 13.8% to 342
rupees, highest since early February 2018
    ** CSFL on Thursday posted 171.1% jump in December-qtr
consol net profit to 361.1 mln rupees ($5.06 mln)  urn:newsml:reuters.com:*:nFWN2AD0RR
    ** Company posts Q3 consol revenue from ops of 5.80 bln
rupees vs 5.58 bln rupees a year earlier
    ** "Improved (Q3 rev) performance is on account of higher
sales of speciality films and strong operating margin on
Biaxially Oriented PolyPropylene (BOPP) films" - CSFL statement
(http://bit.ly/2SMObih)
 
    ** Over 500,000 shares change hands vs 30-day avg of 57,117
shares 
    ** CSFL stock rose 6.3% in 2019

 ($1 = 71.3900 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))