The shares price of Avanti Feeds rallied 16 percent on Tuesday after the company reported strong September quarter earnings.
Avanti Feeds Limited stands as a leading provider of high-quality feed, best technical support to the farmer and caters to the quality standards of global shrimp customers. Avanti is proud of a long list of loyal customers from the USA, Europe, Japan, Australia & the Middle East.
In just one day the stock jumped 15.72 percent to Rs 471 on the NSE. At 12:55 pm, the stock was trading 11.39 percent higher at Rs 453.70.
The shrimp exporter’s consolidated revenue from operations this September quarter rose 41 percent year-on-year to Rs 1,064 crore as against Rs 754 crore in the corresponding quarter last year.
Profit after tax surged to new heights with double the figure in the company’s books this year. The consolidated net profit of the company jumped 131 percent YoY at Rs 127 crore this year as compared to Rs 55 crore last year.
The sales rose 41.05% to Rs 1064.30 crore in the quarter ended September 2019 as against Rs 754.54 crore during the previous quarter ended September 2018.
Earnings before interest, tax, depreciation, and amortization rallied 78 percent YoY at Rs 150 crore as against Rs 84 crore last year.
Despite the increased cost of raw materials, inventories, and other expenses, the company’s sales helped offset the other overhead costs last quarter.
