WPIL, Roto Pumps zoom 20% on robust Q1 result

WPIL zoomed of 20% at Rs 873, also its 52-week high on the BSE, while Roto Pumps surged 20% at Rs 108 on back of heavy volumes.

Shares of WPIL and Roto Pumps are locked in upper circuit of 20% each on the BSE after these companies reported a robust set of numbers for the quarter ended June 2018 (Q1FY19).

WPIL has zoomed of 20% at Rs 873, also its 52-week high on the BSE, after the company reported a more than four-fold jump in net profit at Rs 242 million in June quarter (Q1FY19).

It had a profit of Rs 53 million in the same quarter last fiscal. The company had posted a net profit of Rs 476 million in the entire previous financial year 2017-18.

Revenue from operations during the quarter under review increased by 88% at Rs 1,425 million against Rs 758 million in the corresponding quarter of previous fiscal.

WPIL engaged in engineering, manufacturing, installation, and servicing of pumps of various sizes.

The trading volumes on the counter surged multiple-fold with 132,000 equity shares changed hands till 10:20 am; against an average 12,000 shares were traded daily in past two weeks on the BSE. There were pending buy orders for 42,117 shares, the exchange data shows.

Roto Pumps too surged 20% at Rs 108 on the BSE after the company reported a more than 20-fold jump in net profit at Rs 44 million in Q1FY19. It had a profit of Rs 3.7 million in the same quarter last year. The company is engaged in pumps & spare business.

Revenue from operations grew 44% at Rs 271 million against Rs 189 million in the corresponding quarter of previous fiscal.

Around 75,000 equity shares changed hands on the counter so far against an average sub 7,000 shares were traded daily in past two weeks. There were pending buy orders for 51,459 shares on the BSE.