India's Sharda Motor hits 8-month high on earnings surge

Sharda Motor Industries

19/05/2023 06:13

** Shares of auto parts maker Sharda Motor Industries
 SHAD.NS  rise as much as 14% to an eight-month high of 918
rupees on Q4 earnings surge
    ** Sharda Motor's consolidated profit soars 41% to 620.7 mln
rupees ($7.59 mln) for the three months ended March 31 as demand
for auto parts surged 
    ** Revenue from operations climbs 11% to 6.88 bln rupees
    ** Co's board also recommends a per-share dividend of 17.27
rupees for the year ended March 31
    ** SHAD shares, last up 8%, have climbed nearly 18% this
year


($1 = 81.7800 Indian rupees)

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))