Vikram Solar shares gained over 10% in trade so far after the company posted stellar first quarter results.
The company's revenue was up nearly 80% to Rs 1,133.50 from Rs 630 crore in the previous year. The solar panel manufacturer reported a strong growth in profit with over 400% jump to Rs 133.30 crore. The company had posted a profit Rs 22.80 crore in the previous year.
Vikram Solar Q1 Results Highlights (YoY)
Revenue up 79.7% to Rs 1,133.50 crore versus Rs 630.90 crore.
Ebitda up 117% to Rs 242.10 crore versus Rs 111.40 crore.
Margin at 21.4% versus 17.7%.
Net Profit up 485% to Rs 133.30 crore versus Rs 22.80 crore.
The Ebitda also saw an uptick of 117% to Rs 242 crore compared to Rs 111.40 crore it posted during the previous year. The Ebitda margin also expanded to 21.4% from 17.7% in the previous year.
Vikram Solar Share Price
Vikram Solar stock rose as much as 13.13% in trade so far to Rs 407.9 apiece on the NSE. It was trading 8.85% higher at Rs 392.3 apiece, compared to an 0.55% advance in the benchmark Nifty 50 as of 10:42 a.m. The relative strength index was at 57.9. There is no Bloomberg analyst coverage on the counter yet.
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