Shares of Garware Hi-Tech Films Ltd. hit an upper circuit of 20% and an all-time high on Thursday as its consolidated net profit nearly doubled in the third quarter.
The manufacturer of specialty performance polyester film products posted an 84% surge in profit to Rs 55.9 crore in the quarter ended December, according to an exchange filing.
GHFL Q3 FY24 Earnings Highlights (Consolidated, YoY)
Revenue up 40% at Rs 453.6 crore vs Rs 324.4 crore.
Ebitda up 67% at Rs 75.1 crore vs Rs 45 crore.
Margin expands to 16.6% vs 13.9%.
Net profit up 84% at Rs 55.9 crore vs Rs 30.4 crore.
Garware Hi-Tech's stock was trading 20% higher at Rs 1,906.50 apiece on the NSE, as compared with a 0.79% decline in the benchmark Nifty 50 at 3:30 p.m.
The share price has risen 187.82% in the last 12 months. The total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 72.
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