Swaraj Engines hits 52-week high post Q1 results

The stock rallied 10% to Rs 1,294, also its 52-week high on the BSE in intra-day trade.

Swaraj Engines has rallied 10% to Rs 1,294, also its 52-week high on the BSE in intra-day trade, after the company reported its best ever quarterly performance in terms of volumes and financials, driven by growth in the tractor industry during the first quarter ended June 30, 2016 (Q1FY17).

The company has reported 24.9% year on year (YoY) growth in net profit at Rs 29 crore in Q1FY17, on back of 12.1% YoY jump in net operational revenue at Rs 172 crore over the previous year quarter.

With the growth in engine sales volume and better spread of fixed cost, EBITDA (earnings before interest, tax, depreciation and amortization) margin expanded by 200 basis points at 16.5% in Q1, Swaraj Engines said in a release.

At 01:20 PM, the stock was up 5% at Rs 1,235 on the BSE. A combined 136,924 shares changed hands on the counter on the BSE and NSE so far.