India's Godrej Industries hits over 1-month high on Q3 profit jump

Godrej Industries

13/02/2023 09:56

** Shares of India's Godrej Industries  GODI.NS  rise as
much as 7% to 457.05 rupees, mark sharpest intraday pct gain
since Jan. 6
    ** Stock hits highest level since Jan. 6; on track to snap
three consecutive sessions of losses
    ** Co reported Q3 consolidated profit more than doubled Y/Y
to 3.15 billion rupees ($38.09 million), while revenue rose 9.3%
Y/Y
    ** Co's profit before tax in chemicals, animal feeds, estate
and property development, finance and investment segments rose
in the quarter
    ** GODI has also approved enhancement of limit of issuing
commercial paper by the co from 20 bln rupees to 25 bln rupees
    ** GODI is the holding co of other listed units, Godrej
Properties  GODR.NS , Godrej Consumer Products  GOCP.NS  and
Godrej Agrovet  GODE.NS 
    ** More than 1 mln shares change hands by 2:58 p.m. IST,
4.5x 30-day avg of 227,796 shares
    ** Stock fell 31.6% last year
($1 = 82.7060 Indian rupees)
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))