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.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
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%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
