India's Poly Medicure jumps on quarterly profit rise

Poly Medicure

04/11/2022 07:54

** Shares of Indian medical devices maker Poly Medicure Ltd
 PLMD.NS  rise as much as 6.8% to 967.00 Indian rupees, biggest
pct gain in 4 weeks    
    ** Co reports a 13.8% rise in consolidated net profit rise
to 435 mln rupees ($5.27 million) in the Sept. qtr from a year
ago
    ** PLMD's consolidated revenue from operations was at 2.75
bln rupees from 2.23 bln rupees a year ago  
    ** Stock set to snap six consecutive sessions of losses
    ** More than 172,500 shares traded at 0742 GMT, 3.4x times
the 30-day moving avg of 50,947
    ** Two analysts covering the stock rate it at "buy" or
higher rating; median PT is 876.00 rupees - Refinitiv data
    **  Upto last close, stock down 5.47% YTD, against the Nifty
Pharma Index  .NIPHARM  which was 4.7% down
($1 = 82.6025 Indian rupees)
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))