Precision Wires Share Price Surges After Q4 Net Profit, Revenue Growth

Precision Wires India Ltd.'s share price surged over 10% after its fourth quarter net profit and revenue grew. The stock price increased by 10.11%, reaching Rs 182.60.

The company reported strong year-over-year growth across key financial metrics. The company's revenue increased 19%, reaching Rs 1,046 crore compared to Rs 878 crore in the same quarter last year. Ebitda saw a rise of 36%, amounting to Rs 50.6 crore, against Rs 37.3 crore in the same quarter last year.

The Ebitda margin improved to 4.8% from 4.2%, indicating better operational efficiency and profitability. Net profit also jumped by 35%, to Rs 29.6 crore, compared to Rs 22 crore in the previous year.

Founded in 1989 and headquartered in Mumbai, Precision Wires specialises in manufacturing winding wires made of copper. The company produces enameled round and rectangular copper winding wires, continuously transposed conductors, and paper mica nomex insulated copper conductors.

The scrip rose as much as 10.11% to Rs 182.60 apiece. It pared gains to trade 6.15% higher at Rs 176.03 apiece, as of 10:01 a.m. This compares to a flat NSE Nifty 50.

It has risen 29.34% in the last 12 months. Total traded volume so far in the day stood at 24 times its 30-day average. The relative strength index was at 79.