India's Safari Industries jumps on five-fold rise in Q3 net profit

Safari Industries (INDIA)

08/02/2023 08:47

** Shares of Safari Industries  SAFA.NS  rise as much as
7.94% to 1,943.10 rupees, a near three-month high
    ** Luggage and luggage accessories maker reports a five-fold
increase in consolidated PAT to 344.7 mln rupees in Dec-qtr
    ** Core profit quadruples to 550 mln rupees; margin expands
to 16.66%
    ** Co declares interim dividend of 1.5 rupees per share for
FY2022-23
    ** Trading volume of 55,000 shares as of 2:00 p.m. IST, more
than four times the 30-day avg
    ** All four analysts tracking the company rate it 'buy' or
'strong buy;' median TP is 2,153 rupees - Refinitiv data
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))