Action Construction Equipment (ACE) rose 2.7% to Rs 146.30 after the construction equipments maker said its cranes volume jumped 68% to 1,595 units in Q3 December 2020 from 950 units in Q2 September 2020.
Forklift volume climbed 24% to 331 units in Q3 December 2020 over Q2 September 2020. Volume of construction equipment surged 64% to 194 units in Q3 December 2020 from 118 units in Q2 September 2020. Agriculture equipment volumes jumped 68.3% to 1,621 units in Q3 December 2020 from 963 units in Q2 September 2020.In its outlook, the company said positive trend, good growth in orders and execution is likely to continue.
ACE is leading material handling and construction equipment manufacturing company with a majority market share in mobile cranes and tower cranes segment.
On a consolidated basis, ACE's net profit rose 2% to Rs 14.60 crore on a 0.1% rise in net sales to Rs 268.30 crore in Q2 September 2020 over Q2 September 2019.
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