Godawari Power jumps 5%, hits new high on strong Q1 results

In past three months, the stock has gained 106%, as compared to a 4.8% rise in the S&P BSE Sensex

Shares of Godawari Power & Ispat were locked in the upper circuit of 5 per cent at Rs 1,777.65, also its new high, on the BSE in intra-day trade on Wednesday after reporting strong earnings for the quarter ended June 2021 (Q1FY22).

The company reported an over 16-fold year-on-year (YoY) jump in its standalone net profit at Rs 403 crore, on the back of healthy operational performance. It had reported a profit of Rs 25 crore in the year-ago quarter.

In Q1FY22, revenue from operations grew 96 per cent YoY at Rs 1,126 crore against Rs 574 crore in the corresponding quarter