Triveni Engineering Shares Rise The Most In Two Months As Q4 Profit Surges Over 86%
The company's net profit rose 86.34% YoY to Rs 189.6 crore in the March quarter, while revenue rose 53.08% to Rs 1,817.7 crore.
Shares of Triveni Engineering & Industries Ltd. rose the most in two months on Friday after its profit jumped over 86% in the fourth quarter.
The company's net profit rose 86.34% year-on-year to Rs 189.6 crore, while revenue increased 53.08% to Rs 1,817.7 crore, according to an exchange filing. The revenue beat the Bloomberg estimate of Rs 1,247.5 crore.
Triveni Engineering & Industries Q4 FY23 (Consolidated, Year-on-Year)
Revenue up 53.08% to Rs 1817.7 crore. (Bloomberg estimate: Rs 1,247.5 crore.)
Ebitda up 54.87% to Rs 264.3 crore. (Bloomberg estimate: Rs 222.9 crore.)
Ebitda margin at 14.54% versus 14.37% (Bloomberg estimate: 17.9%).
Net profit up 86.34% to Rs 189.6 crore.
The board approved a dividend of Rs 3.25 per share.
Shares of Triveni Engineering & Industries rose 6.29% intraday before trading 3.57% higher, compared to a 0.38% gain in the NSE Nifty 50 as of 10:50 a.m.
The average traded volume so far in the day stood at six times its monthly average.
Of the eight analysts tracking the company, six maintain a 'buy' rating, one suggests a 'hold', and one recommends a 'sell', according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 14.5%.