India's Salzer Electronics jumps as Q4 profit more than doubles

Salzer Electronics

25/05/2023 05:41

** Shares of wires and cables maker Salzer Electronics Ltd
 SALZ.NS  rise as much as 4.8% to 299 rupees
    ** Salzer says its March-qtr consolidated profit after tax
more than doubled while rev from ops rose 26.7% Y/Y to 3.03 bln
rupees ($37.05 mln)
    ** Co also declared dividend of 2.2 rupees per share
    ** If trend holds, stock set for a second consecutive
session of gains
    ** About 190,016 shares change hands, vs 30-day avg of
248,088 shares - Refinitiv Data
    ** Stock up 16.4% YTD as of last close

     ($1 = 81.7800 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))