India's Rain Industries climbs on surge in Q3 earnings

Rain Industries

01/03/2023 07:53

BENGALURU, March 1 (Reuters) -    ** Shares of Rain
Industries  RAID.NS  rise as much as 9.38% to 167.95 rupees,
most intraday gains in seven months
    ** Stock rises more than 10% over last two sessions 
    ** Carbon and other advanced materials maker reports
consolidated net profit of 895.21 mln rupees in December
quarter, compared with a loss of 969.59 mln rupees in the same
period a year earlier
    ** Q3 revenue jumps over 35% Y/Y to 54.57 bln rupees, while
core profit rise 28.5% to 6.27 bln rupees
    ** Stock most active in nearly six months since Sept. 9,
2022 with trading volume at 8.23 mln shares, as of 1:15 p.m.,
six times the 30-day avg of 1.43 mln shares - Refinitiv data
    

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