You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

GNA Axles spurts on robust Q3 numbers

Capital Market 

GNA Axles jumped 10.21% to Rs 356.25 after the company's consolidated net profit surged 249% to Rs 26.64 on 28.9% rise in revenue from operations to Rs 276 crore in Q3 December 2020 over Q3 December 2019.

The company's consolidated profit before tax stood at Rs 35.99 crore, rising 258.4% from Rs 10.04 crore in the same period last year. Current tax expense soared to Rs 9.7 crore in Q3 December 2020 as against Rs 3.11 crore in Q3 December 2019.

On BSE 1.23 lakh shares were traded so far on the counter as compared to its two week daily average of 21,000 shares. The stock hit a 52-week high of Rs 365 in intraday today. From its 52-week low of Rs 132 hit on 3 April 2020, the stock is up nearly 170%.

GNA Axles is engaged in the manufacturing of auto parts. It manufactures rear axles, shafts, spindles and other automobiles components for sale in domestic and foreign market.

Powered by Capital Market - Live News

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

Dear Reader,

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.

Digital Editor

First Published: Mon, January 11 2021. 14:07 IST