Integra Essentia shares jump 5% after as company reports manifold jump in profit

Shares of Integra Essentia surged about 5 per cent during the trading session on Friday after the company announced a strong performance in the period ended on March 31, 2023. The company reported a manifold jump in the net profit during the given period.

Integra Essentia reported a more than 210 per cent rise in the net profit on a year-on-year (YoY) basis to Rs 1.69 crore for the December 2023 quarter, which was Rs 0.54 crore in the March 2022 quarter. However, its profit dropped 25 per cent on a sequential (QoQ) basis from Rs 2.24 crore in the December 2022 quarter.

Integra Essentia's revenue from operations rose 34 per cent YoY to Rs 67.27 crore in Q4 FY23, compared with a revenue of Rs 50.19 crore in the year-ago period. However, its revenue remained almost flat on QoQ against Rs 61.05 crore in the preceding quarter.

Following the announcement, shares of Integra Essentia surged about 5 per cent to Rs 6.68 on Friday, before giving up its gains partially. The stock had settled at Rs 6.40 on Thursday. The stock has surged about 260 per cent in the last one year, turning into a multibagger.

For the entire year ended on March 31, 2023,  Integra Essentia reported a more than 510 per cent jump in the net profit at Rs 6.67 crore, compared to Rs 1.09 crore in the year-ago period. Its revenue from operations zoomed over 250 per cent to Rs 241.41 crore during the period under review.

Integra Essentia is in the business of steel and renewable energy. The company recently forayed into the wine industry with the acquisition of Chateau Indage Winery for Rs 40 crore in Narayangaon, Maharashtra.

The New Delhi-based company in an exchange filing informed that the acquisition is a part of its predetermined long-term business expansion plan as it seeks to bolster its FMCG businesses footprint throughout the whole supply chain spectrum of consumable products.

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