India's Garware Technical Fibres jumps on Q4 profit rise

Garware Technical Fibres

28/05/2024 05:22

** Shares of Garware Technical Fibres  GRWL.NS  up as much
as 11.5% at 3,577.70 rupees; last up 5.8% 
    ** Stock posts biggest intraday pct gain since Jan. 8
    ** The technical textile manufacturer reported a 16.6% Y/Y
rise in its March-qtr consolidated PAT to 695.6 mln rupees 
($8.4 mln)
    ** Revenue from operations rose 3.2% Y/Y 
    ** The company, in an exchange filing, said that the Q4 FY
24 has shown a profit growth over Q4 FY 23, driven by strong
demand from Norway and northern Europe
    ** More than 60,000 shares traded by 9:52 a.m. IST, 5.4x the
30-day avg
    ** Including session's gain, stock is up 1.3% YTD    
    
    
    

($1 = 83.1260 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))