Manaksia returned to the black in the December 2022 quarter as the company reported a net profit at Rs 6.2 crore in the given period. The company had reported a net loss in the 0.27 crore same quarter a year ago. On a sequential basis (QoQ), its net profit jumped more than 850 per cent from Rs 0.65 crore.
The metal company reported a 390 per cent year (YoY) increase in the income from operations at Rs 31.4 crore, which was Rs 6.41 crore in the same period last year. In the September 2022 quarters, its income from operations stood at Rs 20.53 crore.
Shares of Manaksia traded flat at Rs 148.20 on Wednesday. The scrip had settled at Rs 148.05 in the previous session after hitting its 52-week high at Rs 158. However, the stock has surged about 90 per cent in the last one month.
Manaksia reported a manifold increase in the net profit for the nine months that ended on December 31, 2022. Its net profit zoomed 6,860 per cent to Rs 86.65 crore for April-December 2022 period from Rs 1.25 crore in the year-ago period. Its revenue from operations jumped 117 per cent to Rs 82.71 crore for the given period.
Manaksia is the flagship company of the Manaksia Group. Manaksia specialises in the manufacture of packaging products and metal products among others. It is also involved in the manufacturing of galvanized steel, metal colour-coated sheets & coils and aluminum alloy ingots for the automotive sector.
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