Shares of Olectra Greentech Ltd. jumped the most in over eight weeks on Monday after its fourth-quarter profit surged over 50% year-on-year.
The company's net profit rose to Rs 27.49 crore in the quarter ended March, according to its exchange filing. That compares with the net profit of the period in the previous fiscal, which stood at Rs 17.77 crore.
The company's March quarter revenue was up 39% to Rs 375.91 crore, compared to Rs 271.30 crore in the same period a year ago.
The board of directors also recommended a final dividend of Rs 0.40 per share for FY23, subject to the approval of the shareholders.
Olectra Greentech Q4 FY23 (Consolidated, YoY)
Revenue is up 38.56% at Rs 375.91 crore vs. Rs 271.30 crore.
Ebitda is up 56% at Rs 49.98 crore vs. Rs 32.05 crore.
Ebitda margin at 13.3% vs. 11.8%.
PAT is up 55% at Rs 27.49 crore vs. Rs 17.77 crore.
The board has recommended a final dividend of Rs 0.40 per share for FY23.
Shares of Olectra Greentech rose 6.75% to Rs 688.4 apiece, compared to a 0.91% advance in the NSE Nifty 50 as of 10:53 a.m.
The stock rose as much as 10.39% in pre-open trade, the most since March 10. Total traded volume stood at 7.3 times its 30-day average. The relative strength index was 61.
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