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Craftsman Automation rises after Q2 PAT jumps 118% YoY

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Craftsman Automation gained 2.55% to Rs 2,594.80 after the company posted a 118% jump in consolidated net profit to Rs 49.96 crore in Q2 FY22 as compared to Rs 22.83 crore posted in Q2 FY21.

Revenue from operations grew by 54% to Rs 571.01 crore in Q2 FY22 from Rs 370.72 crore posted in Q2 FY21. The company's profit before tax jumped 109% quarter on quarter and 122% year on year to Rs 76.54 crore in Q2 FY22.

Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotive-aluminum products, and industrial and engineering.

Shares of Craftsman Automation entered bourses on 25 March 2021. The stock was listed at Rs 1350, a discount of 9.4% to IPO price of Rs 1490 per share. The IPO of Craftsman Automation was subscribed 3.81 times. The issue opened for bidding on 15 March 2021 and closed on 17 March 2021. The price band for the IPO was set at Rs 1488-1490 per share.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 19 2021. 09:50 IST