India's Rico Auto Industries jumps on quarterly profit surge

About this update from Rico Auto Industries Limited

** Shares of Rico Auto Industries NSE:RICOAUTO rise 10.5% to 75.19 rupees** Automobile engineering company reports a near threefold jump in June-quarter consolidated net profit to 163.3 million rupees** Revenue rises 0.7%, while expenses fall nearly 2% due to a drop in raw material and employee-related costs** Stock set for its best day since May 28** More than 2.3 mln shares traded, 8 times their 30-day average** Shares down 8% YTD

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