India's Varanium Cloud jumps on June-quarter earnings boost

Varanium Cloud

21/07/2023 08:14

** Shares of Varanium Cloud  VARL.NS  rises as much as 5% to
147.20 rupees after reporting strong earnings in June quarter
    ** The digital audio and video streaming services provider's
net profit up 66% year-on-year to 406.9 mln rupees in the first
quarter
    ** Revenue from operations sees a more than three-fold
increase to 1.71 bln rupees from 521.3 mln rupees a year ago
    ** Core profit rises 52% to 571.92 mln rupees in the
reported quarter
    ** Approves interim dividend of 1.5 rupees per share for
June quarter
    ** The moving average convergence divergence (MACD) line
rises above the signal line on Friday, suggesting bullish
momentum - Refinitiv data
    ** Stock down 41% so far this year, versus a 9% rise in
Nifty 50 index  .NSEI 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))