 "Avanti Feeds zooms 16% on robust Q1 earnings")
Avanti Feeds has zoomed 16% to Rs 1,148, also its record high on National Stock Exchange (NSE), after reporting a robust 80% year-on-year (yoy) jump in net profit at Rs 25.62 crore for the quarter ended June 30, 2014 (Q1), on back of strong operational income. The company had profit of Rs 14.23 crore in the same quarter year ago.
Total income from operations for the quarter grew 76% to Rs 478 crore against Rs 271 crore in the corresponding quarter of previous fiscal.
Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.
The company has established joint venture with Thai Union Frozen Products PCL., the world's largest seafood processors and leading manufacturer of prawn and fish feeds in Thailand with integrated facilities from hatchery to shrimp & fish processing and exports.
Meanwhile, the stock has been more-than-doubled from Rs 520 on March 31, 2014, compared to 15% rise in benchmark CNX Nifty.
A combined 42,000 shares changed hands on the counter so far on NSE and BSE.
Total income from operations for the quarter grew 76% to Rs 478 crore against Rs 271 crore in the corresponding quarter of previous fiscal.
Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.
The company has established joint venture with Thai Union Frozen Products PCL., the world's largest seafood processors and leading manufacturer of prawn and fish feeds in Thailand with integrated facilities from hatchery to shrimp & fish processing and exports.
Meanwhile, the stock has been more-than-doubled from Rs 520 on March 31, 2014, compared to 15% rise in benchmark CNX Nifty.
A combined 42,000 shares changed hands on the counter so far on NSE and BSE.
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