India's Universal Cables rises on Q4 profit jump

Universal Cables

19/05/2023 06:34

** Shares of Universal Cables Ltd  UNVR.NS  up as much as
4.5% to 419.95 rupees, their biggest intraday pct gain since May
12
    ** The wire and cables maker on Thursday reported a ~32%
jump in its consolidated profit for the quarter ended March 31,
led by a reduction in inventory costs
    ** Co's consolidated revenue from operations fell by a
marginal ~2% to 5.83 bln rupees, while inventory costs
contracted 72% to 61.7 mln rupees
    ** Over 70,000 shares change hands, 1.2x the 30-day moving
avg
    ** As of last close, stock up ~35% this year


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))