Metals company Manaksia Limited has returned to black posting a Rs 62 crore net profit in the December quarter. According to an exchange filing by the Kolkata headquartered company, the rise in profit could be attributed to higher income.
The company in the same quarter in the last financial year had reported a net loss of Rs 65 lakh, the company informed the exchanges.
Its total income jumped to Rs 34.38 crore in the quarter under review as against from Rs 7.41 crore a year ago. Its total expenses were at Rs 31.42 crore as compared to Rs 7.44 crore YoY.
Shares of Manaksia slumped around 2 per cent during Wednesday’s trade to quote Rs 144 apiece on NSE.
The small cap company’s shares have delivered multibagger returns to its investors. The stock has advanced a whopping 87 per cent in 2023 so far while it has yielded nearly 93 per cent return in the past one year.
Manaksia Limited is a flagship company of the Manaksia Group. It is also involved in the manufacturing of galvanized steel, metal colour-coated sheets & coils and aluminum alloy ingots for the automotive sector.