Spectrum Foods hits 20% upper circuit after it reports 61% increase in net profits in Q2

At 02:30 shares of Spectrum Foods Ltd were trading at Rs. 80.43 per share, up by 19.9 percent from previous closing price of Rs. 67.03 per share. The company has a market capitalization of 39 crores. 

Such bullish stock price movements were observed after the company announced results of Q2 through a regulatory filing on Bombay stock exchange (BSE). Company reported 50 percent increase in revenue and 61 percent increase in profits compared to the same quarter in the previous financial year. 

Company reported revenue of Rs. 5.04 crores in Q2FY24 that is 50 percent increase from Rs. 3.37 crores in Q2FY23 Moreover, profit reported in Q2FY24 is Rs. 3.3 crores which is 61 percent increase from Rs. 2.04 crores in Q2FY23. 

Spectrum Foods

Looking at the profitability ratios, the company reported return on capital employed (ROCE) of 4.67 percent and current ratio of 1.12 in the last financial year. 

Incorporated in 1994, Spectrum Foods Ltd (a part of Saboo Sodium Chloro Limited) is in the business of trading of salt and power generation through wind mill

 

JOIN OUR TELEGRAM FOR DAILY MARKET UPDATES 

 

 

ALSO READ- Zomato Shares Hit 52-Week High on Partnership Deal with IRCTC

Biocon Shares slide 4% as Malaysia Unit Red Flagged by USFDA

Orient Cement gains over 8% on reports of stake sale talks with Adani

1 thought on “Spectrum Foods hits 20% upper circuit after it reports 61% increase in net profits in Q2”

Leave a Comment