Shares of Swaraj Engines rose nearly 12 percent and hit a 52-week high of Rs 3,200 apiece on July 18 after the company posted strong results for the quarter ended June.
At 2.40 PM, shares of Swaraj Engines were up 6.2 percent. Shares of the company have gained over 30 percent in the past six months, outperforming the Nifty 50 index, which gained 15 percent during the same time frame.
Swaraj Engines net profit rose 22.7 percent sequentially and 5.5 percent annually to Rs 43.19 crore. The company's revenue rose 19 percent sequentially and 4.5 percent on an annual basis to Rs 399.8 crore.
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The total expenses incurred by the company in the June quarter also increased by 18.7 percent on a sequential basis and 4.3 percent on an annual basis at Rs 364.3 crore.
Swaraj Engines was incorporated on September 24, 1985, and received its Certificate of Business on October 16, 1985. It manufactures and sells engines for applications other than tractors. The company was jointly promoted by Punjab Tractors and Kirloskar Oil Engines.
In FY24, the company's net profit stood at Rs 137.9 crore against a revenue of Rs 1,419.2 crore.
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