India's Paramount Comm hits near 1-mth high on Q2 profit surge

Paramount Communications

02/11/2022 09:27

** Shares of Paramount Communications Ltd  PCML.NS  rise as
much as 5% to 21 rupees, their highest since Sept. 9 
    ** The wires-and-cables co posted an almost 700% surge in
Sept-qtr consolidated profit on Wednesday to 126.2 mln Indian
rupees ($1.52 mln), compared to 15.9 mln rupees year ago
    ** Consolidated revenue from operations rose 53.9% Y/Y to
2.13 bln rupees
    ** More than 1 mln shares traded as of 0919 GMT, 5X their
30-day moving avg of 206,494 shares
    ** PCML shares up 43.4% YTD, as of last close
($1 = 82.7750 Indian rupees)
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))