Praj Industries rallies 17% on strong Q3 results

The stock surged 17 per cent to Rs 132 after the company reported net profit of Rs 22.43 crore in Q3FY19 against Rs 7.52 crore in the year-ago quarter.

Shares of Praj Industries surged 17 per cent to Rs 132 on the BSE after the company reported a three-fold jump in its net profit at Rs 22.43 crore in December quarter (Q3FY19). It had posted profit of Rs 7.52 crore in the same quarter last fiscal.

Operational income during the quarter under review grew 33 per cent at Rs 330 crore against Rs 248 crore in the corresponding quarter of previous year. Earnings before interest, taxation, depreciation and ammortisation (Ebitda) margin improved 170bp to 8.4 per cent from 6.7 per cent in year-ago quarter. The performance was driven