India's Heritage Foods hits over six-year high on Q4 profit surge

Heritage Foods

30/05/2024 05:11

** Shares of Heritage Foods  HEFI.NS  rise as much as
8.5% to 403 rupees
    ** Stock posts its highest level since April 11, 2018
    ** The dairy products company reported a more than twofold
jump in its March-qtr consolidated net profit from continued
operations to 405 million rupees ($4.9 mln)
    ** Revenue from operations rose 16.3% Y/Y, while revenue
from its dairy segment climbed 15.8% Y/Y 
    ** HEFI on track for a fifth straight session of gains, if
current trend holds 
    ** More than 1.5 mln shares change hands in early trade,
2.9x the 30-day avg
    ** Including session's gains, stock up 31.4% YTD 
    
    ($1 = 83.4050 Indian rupees)

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