The share price of Avanti Feeds rallied 16 percent intraday on Tuesday after the company reported strong September quarter earnings.
Intraday, the stock jumped 15.72 percent to Rs 471 on the NSE. At 12:55 pm, the stock was trading 11.39 percent higher at Rs 453.70.
The shrimp exporter's consolidated revenue from operations this September quarter rose 41 percent year-on-year to Rs 1,064 crore as against Rs 754 crore in the corresponding quarter last year.
Profit after tax surged to new heights with double the figure in the company's books this year. The consolidated net profit of the company jumped 131 percent YoY at Rs 127 crore this year as compared to Rs 55 crore last year.
Earnings before interest, tax, depreciation, and amortisation rallied 78 percent YoY at Rs 150 crore as against Rs 84 crore last year.
Despite the increased cost of raw materials, inventories, and other expenses, the company's sales helped offset the other overhead costs last quarter.
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First Published: IST