The shares of Avanti Feeds jumped over 3 percent to close at Rs 741.45 apiece on February 10 after the company reported a net profit of Rs 135.21 crore for the third quarter of the current financial year. This marks a rise of nearly 87 percent from the Rs 72.47 crore net profit reported in Q3 of the previous financial year.
The company announced its results for the October-December quarter of FY 25 just before the markets closed on February 10. The stock immediately saw a significant surge to the closing level.
The company's revenue from operations jumped nearly 9 percent to Rs 1,365.77 crore during Q3 FY25. It had earlier reported revenue from operations at Rs 1,253.23 crore for Q3 FY24.
Also read: Our LIVE blog on Q3 results
Among the segments, the company's shrimp feed segment saw a strong surge in revenue. The segment generated Rs 1,041.63 crore revenue during the reported quarter, up nearly 12 percent year-on-year. Its processed shrimp business however saw a nearly flat growth in revenue at Rs 321 crore. While its power segment's revenue dropped to Rs 14 lakh, its shrimp hatchery business saw revenue jump to Rs 3.4 crore.
Avanti Feeds reported total expenses at Rs 910 crore for Q3 FY25, marking a rise from the Rs 881.72 crore reported in the year-ago period.
The stock has risen nearly 23 percent in the last one month, driven by Union Finance Minister Nirmala Sitharaman's announcement that the government will introduce an enabling framework for the sustainable harnessing of fisheries in India's Exclusive Economic Zone (EEZ), which includes the high seas.
The stock currently has a market cap of nearly Rs 10,102 crore, as per data on the Bombay Stock Exchange (BSE).
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