 "Astra Microwave surges as Q2 profit doubles")
Astra Microwave Products has surged 8% to Rs 129 on BSE after reporting a more-than-double net profit at Rs 23.40 crore for the quarter ended September 2014 (Q2), on back of strong operational income. The company engaged in defence business had profit of Rs 11.60 crore in the same quarter last fiscal.
Net sales of the company jumped 65% to Rs 190 crore in the quarter against Rs 115 crore in the corresponding quarter of previous year.
EBITDA or operating profit margin improved to 20.6% from 14.2%.
The stock opened at Rs 120 and hit a high of Rs 132 on BSE. The counter have seen huge trading volumes with a combined 5.43 million shares changed hands till 1230 hours, against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
Net sales of the company jumped 65% to Rs 190 crore in the quarter against Rs 115 crore in the corresponding quarter of previous year.
EBITDA or operating profit margin improved to 20.6% from 14.2%.
The stock opened at Rs 120 and hit a high of Rs 132 on BSE. The counter have seen huge trading volumes with a combined 5.43 million shares changed hands till 1230 hours, against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.