Shares of Surya Roshni moved higher by 5 per cent to Rs 510.90 on the BSE in the intra-day trade on Tuesday ahead of its January-March quarter (Q4FY21) results, slated to be released later in the day. The stock of the company, engaged in steel pipes and strips, lighting, and consumer durables business, was trading close to its record high level of Rs 522 touched on February 9, 2018.
For October-December quarter (Q3FY21), Surya Roshni had posted an 80 per cent year on year (YoY) jump in profit after tax at Rs 56 crore due to increasing share of high margin products, cost optimization and improved operating efficiency. Revenue grew by 13 per cent YoY at Rs 1,578 crore while cash profit rose 49 per cent YoY at Rs 101 crore over the previous year quarter.
Read more about Surya Roshni shares rise 7% on rating upgrades, stable outlook on Business Standard. CARE Ratings upgraded ratings of the company s short-term bank facilities and commercial paper with reaffirmation of long term bank facilities