India's Meghmani Finechem hits record high after Q4 profit triples

Epigral

26/04/2022 07:15

** Shares of specialty chemicals maker  MEGM.NS  rise as
much as 13.5% to a record high of 1,469 rupees
    ** Co on Monday reported Q4 profit after tax that tripled to
990 million Indian rupees ($12.94 million)
    ** MEGM says it saw higher price realizations in all its
products while cost control measures allowed it to maintain
margins despite inflationary pressure
    ** About 1.3 mln shares change hands, 9x 30-day avg
    ** MEGM shares up 87% YTD 


($1 = 76.4900 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))