Sanghvi Movers spurts after strong Q3 outcome

Sanghvi Movers rose 18.76% to Rs 1026 after the company's consolidated net profit surged 76.35% to Rs 61.28 crore on 36.38% increase in net sales to Rs 167.04 crore in Q3 December 2023 over Q3 December 2022.

Profit before tax soared 76.6% YoY to Rs 82.01 crore in Q3 December 2023.

Total expenses rose 10.7% to Rs 52.26 crore in Q2 FY24 over Q2 FY23. During the quarter, employee benefits expense was at Rs 8.99 crore (down 14.22% YoY).

Sanghvi Movers is the largest crane rental company in India and Asia, and the sixth-largest in the world as ranked by International Cranes (June 2023). The company has a fleet of 400+ medium to large-sized heavy-duty telescopic and crawler cranes ranging from 20 to 1000 MT across 130+ operational job sites in India.

 

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