India's International Gemological Institute rises on Q2 profit surge

International Gemological Institute

Yesterday 05:18

** Shares of India's International Gemological Institute ITEN.NS rise 10% to 353.20 rupees
** Stock headed for biggest intraday percentage gain since December 26, 2024
** Gem certification firm says September quarter consolidated net profit rose 43% to 1.86 billion rupees ($19.71 million) from about 1.3 billion rupees a year ago
** Co's quarterly consolidated revenue rose 31% to 3.98 billion rupees from 3.04 billion rupees in the same quarter last year
** ITEN says performance was supported by growth across segments, with natural diamond loose stones rising 8% Y/Y and natural diamond jewelery rising 3% Y/Y
** Co says Q2 profit and revenue was supported by strong operational execution and healthy demand trends driven by Indian festive season and US holiday ordering cycle
** Stock down 4.15% YTD
     


($1 = 94.3650 Indian rupees)

 (Reporting by Anushka Rajvedi in Bengaluru)
 ((mailto: anushka.rajvedi@thomsonreuters.com))