Sterling Tools jumped 8.12% to Rs 542.75 after the company's consolidated net profit surged 40.20% to Rs 17.47 crore in Q2 FY25 as against Rs 12.46 crore posted in Q2 FY24.
Revenue from operations jumped 35.11% year on year to Rs 283.98 crore in the quarter ended 30 September 2024.As compared to Q1 FY25, the company's net profit declined by 5% and revenue fell by 1% in Q2 FY25.
Total expenses jumped 34.30% YoY to Rs 262.85 crore during the quarter. Cost of materials consumed was at Rs 132.95 crore (up 37.71% YoY) while employee benefits expense stood at Rs 23.95 crore (up 53.82% YoY) during the period under review.
Profit before tax stood at Rs 23.05 crore in the quarter ended 30 September 2024, up 40.46% from Rs 16.41 crore recorded in Q2 FY24.
On half-year basis, the company's net profit rose 40.54% to Rs 35.88 crore on 31.31% increase in revenue to Rs 565.66 crore in H1 FY25 over H1 FY24.
Meanwhile, the companys board has approved the investment in the form of equity in Sterling Tech-Mobility, wholly owned subsidiary of the company upto an amount of Rs 20 crore in one or more tranches.
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Sterling Tools manufacture high tensile and premier cold forged hi-tensile fasteners catering to the passenger cars, two wheelers, commercial vehicles, agri-equipment and construction equipment segments. The companys client portfolio comprises leading OEMs in the domestic market and international markets.
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