India's Orient Abrasives rises on qrtly profit jump

Orient Ceratech

23/05/2023 07:01

** Shares of aluminium refractories producer Orient
Abrasives  ORNT.NS  up as much as 7.05% at 28.85 rupees, their
highest since Jan. 18
    ** Co hits sharpest intraday pct gain since April 27
    ** ORNT reported a nearly three-fold increase in its
consolidated net profit for the quarter ended March 31, at 58.9
million rupees ($720,224.99)
    ** Consolidated revenue from operations increased 16.9%
year-on-year 
    ** About 96,445 shares change hands as of 11:21 a.m. IST, vs
2.9x 30-day average of 33,709 shares 
    ** Stock down 6.42% YTD as of last close

($1 = 81.7800 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))