Shakti Pumps surges 8% on strong Q3 results

The stock hit a new high of Rs 576, up 8% on BSE in noon deal, after the company reported more than four-fold jump in its consolidated net profit at Rs 167 million in Q3FY18.

Shakti Pumps (India) hit a new high of Rs 576, up 8% on BSE in noon deal, after the company reported more than four-fold jump in its consolidated net profit at Rs 167 million in October-December quarter (Q3FY18). It had a profit of Rs 41 million in the same quarter year ago.

Operational revenue of the company during quarter under review increased by 42% to Rs 1,477 million from Rs 1,041 million the corresponding quarter of previous year.

EBITDA (earnings before interest, tax, depreciation and amortization) margin improved to 21.17% in Q3FY18 from 15.4% in Q3FY17.

For the first nine months (April to December) of the current financial year 2017-18, the company’s net profit more than doubled to Rs 245 million against Rs 107 million in the same period last fiscal.

At 01:02 PM; the stock was trading 7% higher at Rs 568 against 0.87% rise in the S&P BSE Sensex. The trading volumes on the counter jumped nearly five-folds with a combined 1.14 million shares changing hands on BSE and NSE so far.