Avanti Feeds hits new high on strong Q1 results

Avanti Feeds has soared 12% at Rs 161, also its lifetime high, after reporting 43% year-on-year (y-o-y) jump in net profit at Rs 7.72 crore for the quarter ended June 2012, on back of higher operational income and lower finance cost. Net sales grew 41% at Rs 159 crore on y-o-y basis.

EBITA (earnings before interest, taxes, depreciation, and amortization) margins improved to 8.50% from 7.95% during the recently concluded quarter.

Meanwhile, the board has recommended a dividend of Rs 6.50 per share of Rs 10/- fully paid equity shares for financial year 2011-12.

Avanti Feeds is engaged in manufacturing of shrimp and fish feed, processing and export of shrimp. The trading volumes on the counter surged over five-fold, with a combined around 65,817 shares have changed hands so far on the BSE and NSE.