India's Kross hits record high as profit more than doubles in second quarter

Kross

Mon 08:06

** Critical automobile parts maker Kross KROS.NS shares surge as much as 20% to a record high of 326.4 rupees apiece
** Rise follows increase in net profit more than two-fold in September quarter to 196.86 million rupees ($2.08 million) from 80.84 million rupees in year-ago period
** Revenue from operations nearly doubles Y/Y to 2.35 billion rupees 
** Momentum continued with robust demand from original equipment makers (OEM) in the medium and heavy commercial vehicles segment, says Sudhir Rai, chairman and managing director of KROS 
** Adds Q3 and Q4 volumes are expected to be stronger
** Says KROS well-positioned to deliver healthy growth in FY2027
** KROS shares most active in four months, with volumes at 12.54 million shares, according to data compiled by LSEG
** KROS shares up 65% YTD

($1 = 94.8125 Indian rupees)

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