Integra Essentia's shares hit an upper circuit on Monday after the diversified company announced reported a strong performance in the December 2022 quarter. The stock has delivered multibagger returns to the investors.
Integra Essentia reported a 296 per cent rise in the net profit at Rs 2.11 crore in quarter ended on December 31, 2022, compared to a net profit at 0.53 crore in the year ago period. The company clocked a revenue at Rs 610.52 crore in Q3FY23, which was 240 per cent higher than 179.88 crore in the Q3FY22.
Integra Essentia had reported an operational revenue of Rs 571.26 crore with a net profit at Rs 20.47 crore in the September 2022 quarter, the company said in the exchange filing.
Shares of Integra Essentia jumped 5 per cent, locked in its daily circuit limit, to Rs 8.41 on Monday. The scrip had settled at Rs 8.01 on Friday. The stock has jumped 410 per cent in the last one year, whereas it has delivered a return of 68 per cent in the six months.
For the nine months ended on December 31, 2022, Integra Essentia's net profit zoomed 770 per cent to Rs 4.75 crore from Rs 0.55 crore in the same period a year ago. The company reported an 850 per cent rise in the revenue from operations at 174.14 crore from Rs 18.34 crore in the period under review.
New Delhi headquartered Integra Essentia deals in the fast-moving consumer goods (FMCG) sector. The company is also engaged in the fields of infrastructure, energy, clothing, and agricultural products.
The company board, in its meeting, has also approved promoters' request for their reclassification from promoter or promoter group to public category, which is subject to approvals from the stock exchange and any other statutory approvals.
The company board also considered the various opportunities to scale the business, the filing said. It accorded the in-principal approval to participate in bidding process, initiate negotiation, due diligence and other ancillary activities to take over the certain identified FMCG businesses, it added.
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