India's Laxmi Organic Industries up on Q4 profit jump

Laxmi Organic Industries

22/05/2024 06:03

** Shares of Laxmi Organic Industries  LAXR.NS  up as much
as 7.5% to 275.90 rupees; last up 3.2% 
    ** The specialty chemicals manufacturer reported a 82.2% Y/Y
jump in its March-qtr consolidated net profit to 443.05 mln
rupees ($5.3 mln)
    ** Revenue from operations rose 8.4% Y/Y
    ** Co also approved the issuance of non-convertible
debentures worth up to 5 bln rupees 
    ** More than 5.1 mln shares traded by 10:28 a.m. IST, 5.9x
its 30-day avg
    ** Including session's move, stock is down 8.8% YTD,
compared to a 9.1% rise in the benchmark Nifty 500 index
 .NIFTY500  

    
    
    

($1 = 83.2500 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))