Shares of Kalyani Steel Ltd. hit a record high on Monday after its profit jumped in the third quarter of fiscal 2024.
The company's net profit rose 67% year-on-year to Rs 65.3 crore in the quarter ended December 2023, according to an exchange filing
Kalyani Steels Q3 Results Key Highlights (Consolidated, YoY)
Revenue rose 7.5% to Rs 479.8 crore.
Ebitda rose 68.6% to Rs 95.6 crore.
Margin rose 722 bps to 19.92%.
Net profit rose 67% to Rs 65.3 crore.
Shares of Kalyani Steels rose as much as 4.86%, the highest level since listing on July 2, 1997, before paring gains to trade 2.62% higher at 1:00 p.m. This compares to a 0.39% advance in the NSE Nifty 50.
The stock has risen 105.65% in 12 months. Total traded volume so far in the day stood at 1.7 times its 30-day average. The relative strength index was at 72.52, implying the stock was overbought.
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