Avanti Feeds rallies on over two-fold jump Q4 profit
The board has recommended a dividend of 65% or Rs 6.50 per equity share of Rs 10 each for the year 2012-13.
Avanti Feeds is locked in upper circuit of 20% at Rs 130, with no sellers on the counter, after reporting over two-fold jump in its net profit at Rs 6.61 crore for the quarter ended March 31, 2013 (Q4) on back of higher operational income. The company a leading manufacturer of prawn and fish feeds had profit of Rs 2.94 crore in a year ago quarter.
The company’s total income from operations also doubled to Rs 158 crore in Q4FY13 from Rs 79 crore during the corresponding quarter of previous fiscal.
Meanwhile, the board has recommended a dividend of 65% or Rs 6.50 per equity share of Rs 10 each for the year 2012-13.
The stock opened at Rs 121 on NSE and has seen a combined 15,388 shares changing hands on the counter. There are pending buy orders for 3,522 shares on NSE and BSE at 1029 hours.
The company’s total income from operations also doubled to Rs 158 crore in Q4FY13 from Rs 79 crore during the corresponding quarter of previous fiscal.
Meanwhile, the board has recommended a dividend of 65% or Rs 6.50 per equity share of Rs 10 each for the year 2012-13.
The stock opened at Rs 121 on NSE and has seen a combined 15,388 shares changing hands on the counter. There are pending buy orders for 3,522 shares on NSE and BSE at 1029 hours.
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First Published: May 27 2013 | 10:30 AM IST