India's Hume Pipe Co jumps on quarterly profit rise

Indian Hume Pipe

17/05/2024 09:34

** Shares of Indian Hume Pipe Co  IHME.NS  rise 17.6% to 322
rupees, its highest since July 2019 
    ** Water projects construction firm said its March-qtr
profit grew nearly three-fold to 436.7 mln rupees ($5.2 mln),
even as rev from ops dropped 11%
    ** Co logged gains from a real estate project land transfer
worth 457.7 mln rupees 
    ** Stock eyes busiest trading session in over a month,
volumes at 27.7x the 30-day avg 
    ** Including session's gains, stock up ~32% YTD 



($1 = 83.3800 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))