 "Indo Tech Transformers soars 20% on strong Q4 results")
Indo Tech Transformers is locked in upper circuit of 20% at Rs 225 on the BSE after the company reported net profit of Rs 10 crore in March 2016 quarter (Q4FY16) owing to rise in demand from its customer and better market conditions.
The company engaged in sale of transformers had profit of Rs 1 crore in a year ago quarter. . It had net loss of Rs 2.47 crore in December 2015 quarter.
Net sales grew 42% at Rs 51 crore during the quarter under review against Rs 36 crore in the corresponding quarter of previous fiscal.
Indo Tech Transformers said the company has developed a business plan to strengthen its financial position and liquidity and initiated various measures to improve its operational performance.
Pursuant to such measures, the working capital and liquidity position has also improved, it added.
Till 10:43 am, a combined 588,231 shares changed hands and there were pending buy orders for 59,491 shares on the BSE and the NSE.
The company engaged in sale of transformers had profit of Rs 1 crore in a year ago quarter. . It had net loss of Rs 2.47 crore in December 2015 quarter.
Net sales grew 42% at Rs 51 crore during the quarter under review against Rs 36 crore in the corresponding quarter of previous fiscal.
Indo Tech Transformers said the company has developed a business plan to strengthen its financial position and liquidity and initiated various measures to improve its operational performance.
Pursuant to such measures, the working capital and liquidity position has also improved, it added.
Till 10:43 am, a combined 588,231 shares changed hands and there were pending buy orders for 59,491 shares on the BSE and the NSE.
