Opto Circuits gains on 32% jump in net

The stock touched a high of Rs 177 and finally settled at Rs 175, up 6% from the previous close. The counter witnessed trades of 537,952 shares as compared to the two-week daily average traded volumes of 651,329 shares on the BSE.
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(Updated at 1047hrs)

Opto Circuits has advanced nearly 2%, after it posted a consolidated net profit of Rs 59.28 crore, a 31.7% rise in the Q1 results  for the quarter ended June 30, 2009.

The stock touched a high of Rs 170 and a low of Rs 165 till now. Around 66,250 shares have changed hands so far on the BSE counter, against its two-week average traded quantity of 651,329.

Opto Circuits (India), the Bangalore-based manufacturer of coronary stents and other diagnostic equipment, reported a consolidated net profit of Rs 59.28 crore in Q1FY10, compared to the corresponding quarter last year.

Its consolidated sales for the quarter rose by 29.8 per cent to Rs 230.3 crore compared to the same period a year ago. The rise in profits was mainly on account of introduction of new products and rise in demand for its diagnostic equipment.