Fairfield Atlas has rallied 9% to Rs 164, extending its previous day’s over 4% gain, on reporting three-fold jump in net profit at Rs 10.18 crore for the quarter ended June 2012, on back of higher operational income and lower raw material cost.
The company engaged in manufacturing and selling of automotive transmission gears and gear boxes, had a net profit of Rs 3.69 crore in previous year quarter. Operating profit margins almost doubled to 27% from 14% during the quarter under review.
Net sales grew 31% at Rs 66.81 crore, while raw material cost increased little over 3% at Rs 30 crore during the first quarter of current fiscal over the previous year.
The stock opened at Rs 151 and hit a low of Rs 146 on the BSE. As many as 121,000 shares have already changed hands on the counter so far, against an average around 80,000 shares that were traded daily in past two weeks.
