Heritage Foods (India) has surged 13% to Rs 395 after reporting six-fold jump in its consolidated net profit at Rs 14.48 crore for the second quarter ended September 2012. The company engaged in packaged foods business had profit of Rs 2.55 crore in previous year quarter.
“The company’s total income from operations grew 16% at Rs 402 crore, while total expenditure increased by 11% at Rs 304 crore on year-on-year basis,” Heritage Foods said in a statement.
Meanwhile, the company reported net profit of Rs 22.93 crore during April-September, has surpassed its entire previous fiscal profit of Rs 9.20 crore in first six months of current fiscal.
The stock has outperformed the market by appreciating 182% so far in current fiscal as compared to 6% rise in benchmark Sensex.
Today, the stock opened at Rs 353 and hit 52-week high of Rs 396 on the NSE. As many as a combined 330,572 shares have already changed hands on the counter so far against an average around 107,000 shares that were traded daily in past two weeks.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.