Prataap Snacks scales record high after stellar Q2 outcome

Prataap Snacks gained 5.42% to Rs 1,348 at 09:36 IST on BSE after consolidated net profit jumped 142.4% to Rs 12.92 crore on 10.1% rise in total income to Rs 264.10 crore in Q2 September 2017 over Q2 September 2016.

The announcement was made after market hours yesterday, 13 December 2017.

Meanwhile, the S&P BSE Sensex was up 27.97 points or 0.08% at 33,081.01. The S&P BSE Small-Cap index was up 46.28 points or 0.26% at 18,028.13.

On the BSE, 15,000 shares were traded in the counter so far, compared with average daily volumes of 3,344 shares in the past two weeks. The stock had hit a high of Rs 1,404 in intraday trade, a record high for the stock. The stock hit a low of Rs 1,332.45 so far during the day. The stock had hit a record low of Rs 1,102 on 31 October 2017.

The small-cap company has equity capital of Rs 11.73 crore. Face value per share is Rs 5.

Commenting on the performance, Amit Kumat, MD & CEO, Prataap Snacks said that the company continues to expand its distribution network and range of products. The company is in the process of commercialising entry into sweet snacks, through the launch of Yum-pie, which will complement offerings in the savoury segment.

Shares of Prataap Snacks had settled at Rs 1,178.30 on 5 October 2017, a premium of 25.62% over the issue price of Rs 938 on its debut on the stock exchanges.

Prataap Snacks is an Indian snack foods company. The company offers multiple variants of products across categories of Potato Chips, Extruded Snacks, Namkeen (traditional Indian snacks) under the Yellow Diamond brand.

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