Shakti Pumps Shares Locked In 20% Upper Circuit After Q3 Profit Jumps Fourfold
The energy-efficient pump manufacturer's consolidated net profit surged 300% year-on-year to Rs 45.2 crore in the quarter ended December 2023, according to an exchange filing on Thursday.
Shares of Shakti Pumps (India) Ltd. were locked in upper circuit after it surged 20% to a record high on Monday after its profit surged fourfold in the third quarter.
The energy-efficient pump manufacturer's consolidated net profit surged 300% year-on-year to Rs 45.2 crore in the quarter ended December 2023, according to an exchange filing on Thursday.
Shakti Pumps Q3 FY24 Highlights (Consolidated, YoY)
Revenue up 58% at Rs 495.6 crore.
Ebitda at Rs 71 crore vs Rs 21.9 crore.
Margin expands 735 basis points at 14.31%.
Net profit up 300% at Rs 45.2 crore.
Shakti Pumps' stock rose as much as 20% to Rs 1,271.10 apiece on the NSE, compared to a 0.83% advance in the benchmark Nifty 50 at 9.50 a.m.
The share price has risen 113.42% in the last 12 months. The total traded volume so far in the day stood at 5.2 times its 30-day average. The relative strength index was at 73, indicating that it was overbought.
