Indian power firm Skipper up on over six-fold jump in Q2 profit

Skipper

08/11/2023 04:10

** Shares of Skipper  SKIP.NS  rise as much as 9.8% to 248
rupees, its biggest intraday pct gain since Sept. 1
    ** Power transmission and distribution structures maker
reported a more than six-fold jump in profit to 197.8 mln rupees
($2.38 mln) from 29.9 mln rupees a year earlier
    ** Revenue from operations rose 67.2%
    ** More than 330,000 shares change hands by 09:30 a.m. IST,
1.1x its 30-day avg
    ** Stock currently up 6.2%, bumping YTD gains to 89.4%  
    
($1 = 83.2425 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))