The auto components maker also known as Sona Comstar reported a 22.24 per cent increase in its consolidated net profit to Rs 88.2 crore for the second quarter ended on September 30. The company had reported a net profit of Rs 72.15 crore in the July-September period of the previous fiscal.
Following the update, shares of Sona Comstar soared 15 per cent to Rs 705 on Thursday, before paring some gains and trading at Rs 674.15 at 10.20 am. BSE Sensex was down 373.63 points or 0.61 per cent at 60,769.70 at the same time. The scrip had settled at Rs 615.25 on Wednesday.
Revenue from operations stood at Rs 585.69 crore in the second quarter as compared to Rs 384.3 crore in the year-ago period, Sona Comstar said in a regulatory filing.
Sona BLW Precision Forgings listed on the bourses in June this year. The company had issued shares at a price of Rs 291 apiece and made a flat debut as the IPO received a subdued response from investors.
The scrip has rallied nearly 180 per cent over its issue price to scale a new 52-week high of Rs 813.25 earlier this month. Despite a 15 per cent fall from the peak, the scrip is still trading 145 per cent above the issue price.
