Shakti Pumps (India) soared 14% to Rs 307, also its record high on BSE, after the company reported net profit of Rs 11 crore in March 2017 (Q4FY17) quarter, on the back of strong operational income. The company engaged in pumps & motors business had reported profit of Rs 22 lakh in the same quarter of last fiscal year.
Net sales of the company during the quarter under review more than doubled to Rs 164 crore in Q4FY17 against Rs 73 crore in the corresponding quarter of previous year.
For the financial year 2016-17 (FY17), Shakti Pumps has reported 11-fold jump in net profit of Rs 21.32 crore. It had profit of Rs 1.98 crore in FY16.
Thus far in the calendar year 2017, the stock zoomed 119% from Rs 140 against 14% rise in the S&P BSE Sensex.
At 01:47 pm; it was up 12% at Rs 301 on BSE. The trading volumes on the counter jumped more than 17-times with a combined 2.45 million shares changed hands on BSE and NSE.