Swan Energy Shares Jump 4% To A Record After Posting Rs 220-Crore Profit In Q3
The company reported a consolidated net profit of Rs 220 crore in the quarter ended December, compared to a loss of Rs 15.7 crore in the year-ago period, according to an exchange filing.
Shares of Swan Energy Ltd. jumped over 4% to an all-time high on Thursday after it reported a profit in the third quarter.
The company reported a consolidated net profit of Rs 220 crore in the quarter ended December, compared to a loss of Rs 15.7 crore in the year-ago period, according to an exchange filing.
Swan Energy Q3 Earnings Highlights (Consolidated, YoY)
Revenue at Rs 1,591.7 crore vs Rs 101.1 crore.
Ebitda at Rs 255.8 crore vs Ebitda loss of Rs 13.6 crore.
Margin at 16.07%.
Net profit at Rs 220 crore vs loss of Rs 15.7 crore.
Swan Energy's stock rose as much as 4.21% during the day to Rs 665.95 apiece on the NSE. It was trading 2.43% higher at Rs 654.60 per share compared to a 0.27% advance in the benchmark Nifty 50 at 10:34 a.m.
The share price has risen 110.25% in the past 12 months. The total traded volume so far in the day stood at 2.2 times its 30-day average. The relative strength index was at 77, indicating it was overbought.
An analyst tracking the company has a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 110.1%.