Shares of Shakti Pumps (India) Ltd. were locked in upper circuit after it surged 20% to a record high on Monday after its profit surged fourfold in the third quarter.
The energy-efficient pump manufacturer's consolidated net profit surged 300% year-on-year to Rs 45.2 crore in the quarter ended December 2023, according to an exchange filing on Thursday.
Shakti Pumps Q3 FY24 Highlights (Consolidated, YoY)
Revenue up 58% at Rs 495.6 crore.
Ebitda at Rs 71 crore vs Rs 21.9 crore.
Margin expands 735 basis points at 14.31%.
Net profit up 300% at Rs 45.2 crore.
Shakti Pumps' stock rose as much as 20% to Rs 1,271.10 apiece on the NSE, compared to a 0.83% advance in the benchmark Nifty 50 at 9.50 a.m.
The share price has risen 113.42% in the last 12 months. The total traded volume so far in the day stood at 5.2 times its 30-day average. The relative strength index was at 73, indicating that it was overbought.
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