Sandur Manganese Shares Surge The Most In 10 Months After Q4 Profit Jumps Fourfold

Shares of Sandur Manganese & Iron Ores Ltd. surged the most in 10 months after its profit jumped fourfold in the quarter that ended in March.

Net profit rose four times to Rs 173.89 crore in January-March as compared to Rs 41.41 crore in the previous quarter, according to an exchange filing.

Sandur Manganese and Iron Ore Q4 FY23 (Consolidated, QoQ)

• Revenue up 56.66% at Rs 607.71 crore.

• Ebitda up 253.43% at Rs 235.28 crore.

• Ebitda margin at 38.72% vs. 17.16%

• Net profit is up 319.92% at Rs 173.89 crore.

• Sandur Pellets, a wholly owned subsidiary, was incorporated on May 7, 2022, and the group started presenting its consolidated financial results for the current year. Accordingly, the comparatives of the previous periods are not applicable.

• The board recommended a final dividend of Rs 5 per share for fiscal 2023.

Shares of the company surged 8.64% to Rs 1,328 per share, compared with a 0.31% gain in the BSE Sensex as of 10.22 a.m. It jumped 15.35% intraday, the most since July 26, 2022.

The total traded quantity so far in the day stood at 15.3 times the 30-day average volume.