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Timken India has surged 10% to Rs 355 on National Stock Exchange (NSE) after reporting 107% year on year (yoy) jump in net profit at Rs 26 crore for the quarter ended June 2014 (Q1). The company had profit of Rs 12 crore in the same quarter last fiscal.
Net sales grew by 34.5% at Rs 226 crore on yoy basis.
EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 130% yoy to Rs 42 crore and margin improved by nearly 700 basis points to 18% .
The stock opened at Rs 344 and hit a high of Rs 363 on NSE. The counter has seen huge trading activity with a combined 423,542 shares changed hands in first 15 minutes of trade on NSE and BSE.
Net sales grew by 34.5% at Rs 226 crore on yoy basis.
EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 130% yoy to Rs 42 crore and margin improved by nearly 700 basis points to 18% .
The stock opened at Rs 344 and hit a high of Rs 363 on NSE. The counter has seen huge trading activity with a combined 423,542 shares changed hands in first 15 minutes of trade on NSE and BSE.
