Indo Count Industries Hits 52-Week High on Stellar Quarterly Results

Indo Count Industries Hits 52-Week High on Stellar Quarterly Results

VoM News Desk | November 7, 2023 | 05:08 PM IST | Breaking News | Follow on Google News

Indo Count Industries Hits 52-Week High on Stellar Quarterly Results

Indo Count Industries Hits 52-Week High on Stellar Quarterly Results

The stock market saw a surge of interest in Indo Count Industries as its shares soared over 8% to a new 52-week peak of ₹302.80. This upward momentum is attributed to the company’s impressive performance in the September quarter, which surpassed market expectations.

Record-High Quarterly Revenue Marks a Historic Milestone

Indo Count Industries has marked a significant achievement with its Q2FY24 report, posting a record-breaking revenue of ₹1,033 crore. This marks the first occasion the company’s revenue has breached the ₹1,000 crore threshold, representing a robust 22% growth year-on-year. The last year’s comparable quarter saw the firm generating ₹849 crore, highlighting the company’s substantial growth trajectory in revenue.

Operational Excellence Fuels Financial Success

The company’s operational metrics have shown remarkable strength, with a 40% year-on-year increase in volume to 28.7 million metres in the quarter. This performance has led Indo Count to revise its full-year volume guidance upwards. The EBITDA too reached new heights at ₹189 crore for the quarter, a significant jump from the previous year, with margins expanding notably. The net profit has followed suit, reporting a 70.14% surge compared to the same quarter last year. These financial successes have translated into a striking market performance, with the company’s stock delivering a multi-bagger return of 119.25% year-to-date and a substantial 371% over the past five years.

VoM News Desk

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