India's Syrma SGS Tech hits near 9-month high as profit jumps

Syrma SGS Technology

19/05/2023 07:56

** Shares in electronics manufacturing services provider
Syrma SGS Technology  SYRM.NS  rise as much as 5.2% to 335.40
rupees, their highest in nearly nine months 
    ** Co's net profit climbed to 423.2 mln rupees ($5.17 mln)
for the quarter ended March 31, from 163.6 mln rupees a year
earlier
    ** Domestic demand for electronics manufacturing services
continues to be robust across industries, Syrma SGS said in an
exchange filing after the bell on Thursday
    ** Revenue from operations jumped 83% to 6.8 bln rupees
    ** The upbeat numbers come as India is looking to position
itself as a global electronics production hub
    ** Syrma SGS shares, last up 4.5%, have climbed nearly 19%
so far this year

($1 = 81.7800 Indian rupees)

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