Shares of Schneider Electric Infrastructure Ltd. jumped over 7% to hit a record high on Thursday after its revenue and profit surged over 30% in the first quarter.
The heavy-electrical-equipment maker's net profit rose 32% year-on-year to Rs 34.9 crore in the quarter ended June, according to an exchange filing on Tuesday.
Schneider Electric Q1 FY24 Highlights (Consolidated, YoY)
Revenue up 33% at Rs 495.3 crore.
Ebitda up 71% at Rs 49.5 crore.
Ebitda margin at 9.99% vs. 7.79%
Net profit up 32% at Rs 34.9 crore.
Shares of Schneider Electric rose 2.97% to 295.95 apiece, compared to 0.29% decline in the benchmark NSE Nifty 50 as of 12:05 p.m. The stock rose as much as 7.86% intraday to hit an all-time high of Rs 310 apiece.
It has risen 80% year-to-date. The total traded volume stood at 4.2 times its 30-day average. The relative strength index was at 63.
One analyst tracking Schneider Electric maintains a 'buy' rating on the stock, according to Bloomberg data. The 12-month analyst price target implies a potential downside of 11.2%.
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