India's Shankara Building Products gains after Q4 profit rises

Shankara Building Products

21/05/2024 08:16

** Shares of Shankara Building Products Ltd  SHAB.NS  rise
as much as 7.5% to 715.50 rupees; on track to gain for third
consecutive day
    ** Co reported a 26.5% rise in its March-qtr consolidated
total net profit to 242.2 million rupees ($2.91 million), helped
by increased demand in its retail segment
    ** Retail segment rev rose 5.1%, which helped push rev from
ops up by 13.8%
    ** More than 431,000 shares traded as of 12:42 p.m. IST,
6.7x their 30-day moving avg
    ** SHAB fell 10.2% in March-qtr and down ~1.1% YTD 


($1 = 83.3600 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))