Avanti Feeds scales fresh record high post stellar Q1 performance

Multibagger Avanti Feeds scaled fresh record high of Rs 1974.10 on Monday after consolidated net profit soared 203.6 per cent year-on-year to Rs 148.84 crore for the quarter ended June 30, 2017. It had reported a net profit of Rs 49.03 crore in the corresponding quarter last year.

Revenue from operations of Avanti Feeds jumped 37.80 per cent YoY to Rs 998.17 crore in Q1FY18 over Rs 724.38 crore in Q1FY17.

Shares of the company surged 15.56 per cent up to close at Rs 1901.10 on BSE.

Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.

The result was announced after market hours on Friday.

In the past five years, shares of the company have surged 5,777 per cent to Rs 1645.10 till August 11 from Rs 27.99 on August 10, 2012.

High volumes were witnessed on the counter. On the BSE, 91,000 shares were traded on the counter so far as against the average daily volumes of 28,000 shares in the past two weeks.