India's IFB Agro soars as spirits division boosts profit

IFB Agro Industries

18/06/2021 06:40

** Shares of IFB Agro Industries  IFBA.NS  rise as much as
20% to 651.9 rupees, their highest since January 2019
    ** IFBA, which makes extra neutral alcohol, bottles liquor
and processes marine products, reported March-qtr profit of
144.5 mln rupees ($1.95 mln), vs a loss of 11.1 mln rupees a
year earlier  urn:newsml:reuters.com:*:nFWN2NZ0IA
    ** Revenue rose 27% to 5.49 bln rupees, with a 34% rise in
its spirit, spirituous beverages and allied products business
offsetting weakness in its marine unit
    ** IFBA marks biggest intraday pct gain since November 
    ** Around 700,000 shares change hands by 0532 GMT vs 30-day
avg of around 45,000 shares
    ** Stock up 13.6% this year, up to last close

($1 = 74.1600 Indian rupees)

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))