Parag Milk Foods shares jump on record quarterly revenue
In short
Parag Milk Foods shares rose 13% after the company reported its highest-ever quarterly revenue in the quarter under review. The summary identifies the company as the maker of Gowardhan Ghee and Go Cheese.
The move matters because investors reacted to a record revenue update. The available reporting does not give the revenue number or any other details about profit or guidance.
What the reporting says
Parag Milk Foods shares surged after the company posted its highest-ever quarterly revenue in the quarter under review, according to the Business Standard Markets summary. The report identifies Parag Milk Foods as the maker of Gowardhan Ghee and Go Cheese, but gives no revenue figure or other quarterly details in the available reporting. The immediate driver of the stock move is the revenue milestone.
Why it matters
The publisher-supplied summary says Parag Milk Foods, maker of Gowardhan Ghee and Go Cheese, posted its highest-ever quarterly revenue in the period under review, and the stock surged 13% on that update. The reporting does not provide the revenue amount, profit figures or commentary on margins, so the full strength of the quarter is unknown. The immediate impact is on the company’s share price.