India's Premier Explosives jumps as June-quarter profit surges six fold

Premier Explosives

19/07/2023 10:19

** Shares of Premier Explosives  PRMR.NS  climb 10% to
889.55 rupees 
    ** Explosives maker reports more than six-fold increase in
consolidated net profit in June quarter 
    ** Revenue jumps 20% year-on-year to 619.51 mln rupees; core
profit nearly triples Y/Y
    ** Core profit margin expands to 26.88% from 11.19% in the
corresponding period a year ago
    ** Trading volume surges to 536,991 shares as of 2:37 p.m.
IST, nearly quadruple the 30-day avg - Refinitiv data
    ** Relative strength index has been above 70 since July 7,
suggesting the stock may be overbought
    ** Stock up over 112% in 2023 YTD vs over 9% rise in
benchmark Nifty 50 index  .NSEI 

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