Munjal Auto surges on robust Q3 earnings

After net profit for the third quarter surged 49.4% to Rs 13.48 crore

Shares of Munjal Auto were up over 9% at Rs 41.30 after the company today reported robust earnings for the third quarter ended December 2013.

Net profit for the third quarter surged 49.4% to Rs 13.48 crore compared with Rs 9.02 crore in the corresponding quarter last fiscal.

Total income from operations was up 18.3% at Rs 217.79 crore compared with Rs 174.74 crore in the quarter ended December 2012.

Nearly 33,000 shares were traded on the BSE against a two week average of 2,829 shares. On the NSE the stock witnessed a volume of nearly 72,000 shares so far.

The company is a leading auto component manufacturer producing exhaust systems, spoke rims, steel wheel rims and fuel tanks among others for two-wheelers and four-wheelers.