Venky’s (India) has soared 15% to Rs 519 after reporting a robust 94% year-on-year (yoy) growth in net profit at Rs 20.13 crore for the quarter ended June 30, 2012, due to improved realisations. The packaged foods maker had a net profit of Rs 10.36 crore in year ago quarter. Net sales grew 40% at Rs 307 crore on yoy basis.
Operating profit increased by 88% at Rs 37.71 crore from Rs 20 crore during the quarter, while margins improved by 300 basis points to 11.97% over the previous year.
The stock opened at Rs 455 and hit a high of Rs 523 on the NSE. The counter has seen huge trading activity with a combined 1.22 million shares have already changed hands on the counter so far, against an average sub 100,000 shares that were traded daily in past two weeks.
