India's Elecon Engineering jumps most in more than two years on Q2 profit rise
BUZZ-India's Elecon Engineering jumps most in more than two years on Q2 profit rise ** Material handling equipment and industrial gear maker Elecon Engineering ELCN.NS shares rise as much as 14.05%, their biggest intraday percentage gain since June 12, 2024, to 501.8 rupees apiece
** Rise after ELCN posts a 10% year-on-year rise in consolidated net profit in the September quarter to 963.5 million rupees ($10.1 million)
** Revenue from operations jumps 10.5% Y/Y to 6.39 billion rupees
** ELCN declares interim dividend of 0.5 rupees per share; record date for the payment on October 21
** Order intake remains stable at 4.93 billion rupees in Q2, H1 order intake up 8.8% to 10.63 billion rupees, says ELCN
** Adds, open order book increased 37% Y/Y to 10.56 billion rupees, providing healthy revenue visibility
** Shares little changed YTD
($1 = 95.0900 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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