Escorts has soared 13% to Rs 83.70 after reporting over three-fold jump in net profit at Rs 58.30 crore for the third quarter ended June 30, 2013 (Q3) on back of strong volumes.
The commercial vehicles maker had posted a net profit of Rs 18.46 crore during the same period of previous year.
Net sales of the company rose to Rs 1,173 crore for the third quarter, compared to Rs 1,009 crore for the same period of previous year, Escorts said in a filing to the BSE.
EBIDTA margin improved more than 200 bps year-on-year at 7.9% against 5.36% in the corresponding quarter of previous year.
The company attributes the increase in EBIDTA to increase volumes, better product mix and better price realization along with cost saving across all verticals.
The stock opened at Rs 80 and touched high of Rs 83.85 on NSE. A combined 2.88 million shares changed hands on the counter till early noon deals against two week average of one million on NSE and BSE.
The commercial vehicles maker had posted a net profit of Rs 18.46 crore during the same period of previous year.
Net sales of the company rose to Rs 1,173 crore for the third quarter, compared to Rs 1,009 crore for the same period of previous year, Escorts said in a filing to the BSE.
EBIDTA margin improved more than 200 bps year-on-year at 7.9% against 5.36% in the corresponding quarter of previous year.
The company attributes the increase in EBIDTA to increase volumes, better product mix and better price realization along with cost saving across all verticals.
The stock opened at Rs 80 and touched high of Rs 83.85 on NSE. A combined 2.88 million shares changed hands on the counter till early noon deals against two week average of one million on NSE and BSE.
