Manaksia Industries shares hit upper circuit after Q3 results

NEW DELHI: Shares of Manaksia Industries locked in upper circuit of 5 per cent at Rs 15.65 in early trade on Monday after the company on Sunday reported a consolidated net profit of Rs 11.37 crore for the quarter ended December 31, 2016 against Rs 0.50 crore in the corresponding quarter last year.

Total income from operations of the company climbed to Rs 29.56 crore for the quarter under review against Rs 22.95 crore in the same quarter last fiscal, registering a growth of 28.80 per cent.

Consolidated expenditure of the company declined 25 per cent on a year-on-year basis to Rs 16.62 crore in Q3FY17 against Rs 22.15 crore Q3FY16.

In the past one year, shares of the company has surged over 135 per cent to Rs 14.91 till January 6, whereas BSE Sensex advanced nearly 8 per cent during the same period.

Standalone net profit of the company stood at Rs 0.80 crore in Q3FY17 against net loss of Rs 0.49 crore in the same quarter a year ago.