Endurance Tech advances after good Q4 result

Endurance Technologies gained 2.89% to Rs 1,175 at 09:50 IST on BSE after consolidated net profit rose 27.75% to Rs 148.65 crore on 9.39% rise in total income to Rs 1905.98 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours yesterday, 14 May 2019.

Meanwhile, the S&P BSE Sensex was up 73.95 points or 0.2% at 37,392.48

On the BSE, 2000 shares were traded on the counter so far as against the average daily volumes of 754 shares in the past two weeks. The stock hit a high of Rs 1,183.70 and hit a low of Rs 1,170 so far during the day.

Commenting on the Company's performance, Anurang Jain, Managing Director of the company said European business continued to post reasonable topline growth with attractive margins, despite the challenging market conditions in that geography.

The board of directors has recommended dividend of Rs 5.50 per share for the fiscal year.

Endurance Technologies is one of the leading automotive component manufacturers, having a diverse range of technology intensified products with operations both in India and Europe (Italy and Germany).

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