India's Indo Count hits 2-yr high on Q2 profit jump, raising sales outlook

Indo Count Industries

07/11/2023 06:33

** Shares of Indo Count Industries  ICNT.NS  rise as much as
8.1% to 302.80 rupees, their highest level since Oct. 18, 2021
    ** The home textile bed linen co on Monday reported more
than 70% Y/Y jump in Q2 consolidated profit, while revenue rose
nearly 20% Y/Y
    ** Sales volume during Q2 increased 40% Y/Y to 28.7 million
metres
    ** ICNT has also revised its sales volume guidance upward to
90-100 million metres for FY24 from 85-90 million metres    
    ** More than 2 mln shares change hands by 11:48 a.m. IST,
2.4x 30-day avg
    ** Stock last up 5.1%, bumping YTD gains to ~119%


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))