India's GMM Pfaudler surges on 17-fold jump in profit

Gmm Pfaudler

29/07/2022 07:30

** Shares of industrial equipment maker GMM Pfaudler
 GMMP.NS  jump as much as 17.9% to 1,584 rupees 
    ** Stock set for best day since mid-Feb 2021, if gains hold
    ** GMMP first-quarter consolidated profit jumps 17-fold to
445.1 mln rupees ($5.61 million), while revenue rises 34%
 urn:newsml:reuters.com:*:nFWN2Z94VP
    ** Order intake was up 24%, driven by international business
- co
    ** GMMP also acquired a 100% stake in engineering services
firm Hydro Air Research Italia S.R.L for 382.4 mln rupees
    ** Stock hits highest since May 23
    ** Around 863,000 shares change hands by 0605 GMT, 14.7x
their 30-day avg. 
    ** Stock down 17.1% YTD, as of last close



($1 = 79.4050 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727))