Shares of Ashapura Minechem Ltd surged 12.24% to Rs 716.40 today, November 14, after the company reported a strong set of Q2 financial results marked by robust revenue growth, improved operational performance, and a sharp rise in profitability.
The company posted a consolidated income from operations of Rs 952.50 crore, up 57.7% year-on-year, supported by stronger business traction across its mining and minerals portfolio. Profit before tax rose 128.3% to Rs 81.22 crore, reflecting improved operating leverage.
Ashapura Minechem reported EBITDA of Rs 187.70 crore, a 106.72% YoY increase, signalling better operational efficiency during the quarter. Net profit stood at Rs 113.90 crore, up 88.89% compared to the same period last year, while EPS rose 76.65% to Rs 11.50.
The company also benefited from a favourable income tax litigation settlement, recognising Rs 259.20 crore in carried forward losses and recording deferred tax assets of Rs 34.62 crore, strengthening its financial position.
Operationally, the Operating Profit Margin improved to 13.41%, compared with 12.18% in Q2 last year, indicating stronger cost control and efficiency.
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