Avanti Feeds gallops to record high after blockbuster Q3 earnings

Avanti Feeds jumped 18.58% to Rs 340.15 at 15:18 IST on BSE after net profit surged 374.4% to Rs 22.44 crore on 100.8% spurt in net sales to Rs 274.43 crore in Q3 December 2013 over Q3 December 2012.

The company announced the Q3 results after market hours on Friday, 7 February 2014.

Meanwhile, the BSE Sensex was down 39.58 points, or 0.19% to 20,336.98

On BSE, 1.02 lakh shares were traded in the counter as against average daily volume of 5,075 shares in the past one quarter.

Today's high of Rs 344.20 is a record high for the counter. The stock hit a low of Rs 315.50 so far during the day. The stock had hit a 52-week low of Rs 83.50 on 13 May 2013.

The small-cap stock had outperformed the market over the past one month till 7 February 2014, rising 7.9% compared with the Sensex's 1.53% fall. The scrip had also outperformed the market in past one quarter, gaining 21.62% as against Sensex's 2.14% fall.

The company's current equity is Rs 9.08 crore. Face value per share is Rs 10.

Avanti Feeds makes prawn and fish feeds. Avanti Feeds has established a 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.

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