Dynamatic Technologies surges as company swings to profits in Q4

NEW DELHI: Shares of Dynamatic Technologies ended higher by 16.01 per cent on Monday after the company swung to profits in the quarter ending March 31, 2016.

Dynamatic Tech reported net profit for the period of Rs 11.48 crore as against net loss of Rs 3.15 crore in the same quarter last fiscal year.

The total income from operations stood at Rs 120.89 crore rising 13.3 per cent from Rs 106.67 crore in the same period a year ago.

Reacting to the earnings, the scrip gained 14.24 per cent to hit a high of Rs 2,609.70 on the BSE. The stock has climbed 3.92 per cent in the year so far.

The operating profit for the quarter under review stood at Rs 23.58 crore as against Rs 9.62 crore, signifying a jump of 145 per cent (YoY).