Ucal Fuel Systems extended gains and has surged 40% in two straight trading sessions. The stock has zoomed 20% to Rs 120, also its 52-week high on the BSE, after reporting over four-fold jump in net profit at Rs 8.40 crore for the second quarter ended September 30, 2014 (Q2), on back of strong operational performance.
Auto parts and equipment firm had profit of Rs 1.93 crore in the same quarter last fiscal.
Net sales of the company in July-September quarter grew 17% to Rs 136 crore against Rs 116 crore in the corresponding quarter of previous year.
EBITDA or operation profit margin expanded by nearly 400bps to 16.6% from 13% during the recently concluded quarter.
The company has surpassed its entire previous fiscal net profit of Rs 8.22 crore during first half of current fiscal. It recorded profit of Rs 11.52 crore in first half (April – September 2014) against Rs 3.83 crore during the same period last fiscal.
The stock opened at Rs 109, touched a high of Rs 120 and a low of Rs 108 on the BSE. A total of 343,633 shares have changed hands on the BSE so far.
