Avanti Feeds soars 20% on robust Q4 results; stock zooms over 100% in 2017

The company posted net profit at Rs 90 crore in Q4 against Rs 32 crore in year ago quarter.

Avanti Feeds is locked in upper circuit of 20% at Rs 1,078, also its all-time high on BSE, after the company reported nearly three-fold jump in its consolidated net profit at Rs 90 crore for the fourth quarter ended March 2017 (Q4FY17), on back of strong domestic sales. The company had profit of Rs 32 crore in the same quarter of last fiscal. It had profit of Rs 46 crore in December 2016 quarter.

Total net income from operations of the company during the quarter under review increased 50% to Rs 704 crore over the previous year quarter.

Meanwhile, the board has recommended a dividend of Rs 9 per equity share of Rs 2 each for the financial year ended on 31.03.2017.

Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.

Thus far in the calendar year 2017, the stock zoomed 120% from Rs 491 as compared to 14% rise in the S&P BSE Sensex.

Till 10:13 am; a combined 222,100 shares changed hands and there were pending buy orders for 22,852 shares on the BSE and NSE so far.