Shares of Dollar Industries Ltd. surged nearly 8% after its profit jumped in the second quarter.
The company's net profit rose 43.9% year-on-year to Rs 24.87 crore in the quarter ended September, according to an exchange filing.
Dollar Industries Q2 FY24 Highlights (Consolidated, YoY)
Revenue up 21.2% at Rs 412.5 crore.
Ebitda up 37.62% at Rs 41.7 crore.
Margin at 10.11% vs. 8.9%.
Net profit up 43.9% at Rs 24.87 crore.
Source: NSE
Shares of Dollar Industries rose as much as 7.94% to 471.15 apiece before paring gains to trade 4.93% higher at Rs 458.00 apiece as of 12:11 p.m. This compares to a 0.12% advance in the NSE Nifty 50 Index.
The stock has risen 9.67% on a year-to-date basis. Total traded volume so far in the day stood at 13 times of its 30-day average. The relative strength index was at 65.69.
Out of four analysts tracking the company, 2 maintain a 'buy' rating, one recommends a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an downside/upside of 11.1%.
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