Indian apparel maker KPR Mill soars on revenue jump, new factory plans

KPR Mill

28/10/2020 05:58

** Shares of KPR Mill Ltd  KPRM.NS  rise as much as 15.9% to
784 rupees, highest since Jan. 29, 2018
    ** KPR on Tuesday reported a 16.5% jump in Sept-qtr rev from
ops, as a 21% surge in rev from its main textile business helped
offset weakness in its sugar and other segments  urn:newsml:reuters.com:*:nFWN2HI0FJ
    ** Consol profit up 3.1% at 1.13 bln rupees ($15.28 mln)
    ** Co to establish new garment factory with capacity of 42
mln garments per year, at estimated cost of 2.5 bln rupees, as
market demand grows and as it looks to tap new markets
    ** Stock marks sharpest intraday pct jump in nearly two
months
    ** Around 4.2 mln shares change hands by 0549 GMT vs 30-day
avg of 76,773 shares
    ** Stock up 2.7% this year up to last close

($1 = 73.9430 Indian rupees)

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