Anup Engineering shares surged over 12% after company reported a net profit of ₹43.03 crore for the quarter ending March 2024, more than doubling from ₹19.46 crore reported during the year-ago quarter. The net profit also grew by over 100% from ₹20.17 crore reported during the December 2023 quarter.
The revenue from operations stood at ₹156.92 crore, marking an 8.8% increase from ₹144.17 crore during the year-ago quarter and a 22% sequential increase from ₹128.40 crore in the previous quarter.
The significant improvement in operating performance, with Earnings before interest tax depreciation and amortization (EBITDA) rising 37.3% year-on-year from ₹37.3 crore in Q4 FY24 to ₹30.2 crore in the year-ago quarter, lifted the performance. The bottom line was also boosted by some tax reversals.
For FY24, the net profit stood at ₹103.5 crore, more than doubling from ₹51.4 crore in the previous fiscal year. Revenues grew to ₹550.4 crore, a 33.8% increase year-on-year from ₹411.3 crore in FY23. Earnings before interest tax depreciation and amortization reached ₹126.8 crore, up 53.3% from ₹82.7 crore in FY23.
The company’s domestic business generated ₹325.6 crore in revenue during FY24, contributing 59% to the overall revenue, while exports contributed ₹171.8 crore, accounting for 31% of the total revenues.
As of 1:33 PM, the shares were trading 12.73% higher at ₹2,070.00 on NSE.