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Minda Industries hits lifetime high; zooms nearly 50% post Q1 results

The stock rallied 13% to Rs 330 on the BSE.

Minda Industries hits lifetime high; zooms nearly 50% post Q1 results

Minda Industries has rallied 13% to Rs 330 on the BSE, extending its past one-month rally, after the company’s consolidated net profit nearly doubled to Rs 27 crore in June 30, 2016 (Q1FY16) quarter, on the back of strong operational performance. The auto ancillary company had registered a profit of Rs 14 crore in the year ago quarter. Total operational income during the quarter under review grew 44% at Rs 767 crore against Rs 533 crore in the corresponding quarter of previous fiscal. The EBITDA (earnings before interest, taxes, depreciation and amortization) margin ...