Andhra Sugars has soared 13% to Rs 123 this morning after announcing a smart jump in quarterly profits.
The company has reported a staggering 437% jump in net profit at Rs 29.21 crore for the quarter ending September 2011, as against Rs 5.44 crore in the corresponsing quarter a year ago. Net sales also increased 82% to Rs 199.50 crore in the quarter under review from Rs 107.22 crore in the corresponding previous quarter.
The stock had touched a new 52-week high of Rs 130 in opening deals. It has given up some of its gains now and is up 13% at Rs 123. Around 71,298 shares have been traded on the BSE so far, as compared to 4,766 shares traded daily on an average in the past two weeks.
