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GMM Pfaudler shares surge after September quarter profit more than doubles

GMM Pfaudler shares surge after September quarter profit more than doubles

GMM Pfaudler shares surge after September quarter profit more than doubles
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By CNBCTV18.com Nov 4, 2022 12:53:24 PM IST (Published)

Shares of GMM Pfaudler are up 21 percent this year so far.

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Shares of GMM Pfaudler Ltd. surged as much as 10 percent in trade on Friday after the company posted record revenue for the September quarter.
The company said that its consolidated revenue rose 21 percent to Rs 780 crore from Rs 647 crore in the year-ago quarter.
Net profit grew by 150 percent to Rs 97 crore from Rs 39 crore in the year-ago period.
GMM Pfaudler’s EBITDA increased 27 percent to Rs 119 crore from Rs 94 crore in the year-ago quarter. The operating margin also jumped to 15.3 percent from 14.5 percent a year ago.
The management said that their cost control measures in Europe helped them mitigate the rising energy costs. Although global uncertainties persist, the company's order  intake and backlog remains on track.
The company has also completed the acquisition of the remaining 46 percent in GMM Pfaudler International S.à.r.l. (GMMI) and will now have 100 percent of profits accrue from the next quarter.
The board also approved an interim dividend of Rs 2. The record date for the payment of the dividend is November 30, 2022.
Shares of GMM Pfaudler are currently trading 6.3 percent higher at Rs 1,980.
 
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