Agro Tech Foods rises post Q2 earnings

Operating margins improved by almost 100 basis points to 8.16% from 7.29% during the recently concluded quarter

Agro Tech Foods has rallied over 5% to Rs 436 after reporting 16% year-on-year (yoy) jump in standalone net profit at Rs 9.24 crore for the second quarter ended September 2012. 

Net sales grew 6% at Rs 192 crore on y-o-y basis, while operating profit margins improved by almost 100 basis points to 8.16% from 7.29% during the recently concluded quarter.

The company is engaged in the business of marketing food and food ingredients to consumers and institutional customers.

The stock opened at Rs 421 and touched high of Rs 445 on the NSE. A combined 32,163 shares have changed hands on the counter so far against an average sub 25,000 shares that were traded daily in past two weeks.