Transformers and Rectifiers (India) Ltd (TARIL) on January 8 said that its consolidated net profit has jumped to Rs 55.48 crore in the September-December quarter (Q3) of the current financial year (FY25). This marks a whopping 250% rise from the Rs 15.72 crore net profit the company had reported in the same quarter of the previous financial year (FY24). In comparison to the previous quarter (Q2 FY25), TARIL's net profit has increased around 20%.
The company’s revenue from operations has risen 51% year-over-year to Rs 559.4 crore in Q3 of the current financial year.
The company announced a bonus issue of shares in 1:1 ratio as well as a Qualified Institutional Placement (QIP) to raise up to Rs 750 crore.
TARIL announces Bonus issue
Transformers and Rectifiers announced that its board has approved a bonus issue of equity shares in 1:1 ratio. Shareholders of the company as on record date will receive one bonus share for every share they own. The record date for the same is yet to be announced.
TARIL announces QIP
The company also announced that its board has approved the plan to raise up to Rs 750 crore through a Qualified Institutional Placement (QIP) via issuance of equity shares. The bonus issue as well as QIP however are subject to approval of the shareholders.
Stock hits all-time high record after announcement
After the announcements, shares of TARIL jumped around 5% to hit a new all-time high record of Rs 1,300.45. After being temporarily locked in the upper circuit, the shares dropped around 4% to close flat at Rs 1,248. The stock has surged around 69% in the last one year.
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