Avanti Feeds rallies over 15% on robust Q1 results

The stock zoomed nearly 20% to Rs 3,040, also its new high on the BSE, after reported 78% yoy jump in net profit at Rs 45.71 crore for the quarter ended June 30, 2015.

Shares of Avanti Feeds has zoomed nearly 20% to Rs 3,040, also its new high on the BSE, after reporting a robust 78% year-on-year (yoy) jump in standalone net profit at Rs 45.71 crore for the quarter ended June 30, 2015 (Q1). The company engaged in food products business had recorded a net profit of Rs 25.62 crore in the same quarter year ago.

Total income from operations during the quarter under review grew 26% YoY to Rs 603 crore against Rs 480 crore in the corresponding quarter of previous fiscal.

EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved 200 basis points to 10.63% in June quarter from 8.32% in a year ago quarter.

Avanti Feeds is the leading manufacturer of prawn and fish feeds, shrimp processing and exports from India.

At 09:59 AM, the stock was up 17% at Rs 2,969 on the BSE. A combined around 48,619 shares changed hands on the counter on NSE and BSE so far.