India's Kirloskar Industries climbs nearly 16% on profit surge in Q4

Kirloskar Industries

23/05/2023 09:53

** Shares of Kirloskar Industries Ltd  KIRL.NS  rise as much
as 15.87% - biggest intraday pct gain since June 2022 - to 2,920
rupees
    ** Uptick after the company, engaged in wind power
generation, reports a sharp surge in consolidated net profit in
March quarter  urn:newsml:reuters.com:*:nFWN37J225
    ** Net profit rises to 438.7 mln rupees in fourth quarter
from 1.2 mln rupees a year earlier
    ** Consolidated revenue up 52% Y/Y at 15.75 bln rupees
    ** Co also declares a dividend of 11 rupees per share and
approves sale of windmills business in Maharashtra to ISMT Ltd
 ISMT.NS  for 54 mln rupees
    ** Stock is most active in nearly two weeks, with a trading
volume of 48,910 as of 2:13 p.m. IST, 6.6 times the 30-day avg -
Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))