Mold-Tek Technologies shares gain 5% after strong Q3 results

Mold-Tek Technologies' shares jump 5 per cent during the trading session on Tuesday after the company announced a manifold rise in the net profit for the period ended on December 31, 2022. The stock has jumped about 15 per cent in last two sessions.

Mold-Tek Technologies reported a 450 per cent rise in the net profit at 9.21 crore in the December 2022 quarter, which was Rs 1.67 crore in the year-ago period. The company's net profit jumped 35 per cent on a sequential basis from Rs 6.85 crore in September 2022 quarter.

Mold-Tek Technologies clocked a revenue from operations at Rs 40.71 crore in Q3FY23, 72 per cent higher than its revenue at Rs 23.75 crore in Q3FY22. The company had reported a revenue at Rs 34.73 crore in the preceding quarter. Its EBIDTA jumped about 300 per cent in the third quarter to Rs 13.58 crore from Rs 3.4 crore on a year-on-year (YoY) comparison.

Mold-Tek Technologies' shares gained 5 per cent to Rs 178.20 on Tuesday, before giving up the gains partially. The stock had tested low of Rs 169.45 during the day. Mold-Tek Technologies shares have soared about 180 per cent from its 52-week low at Rs 64.20 in February 2022. The stock has surged 80 per cent in the last six months.

Mold-Tek Technologies reported a 123 per cent rise in the net profit at Rs 19.16 crore for the nine months ended on December 31, 2022, whereas its reported a net profit at Rs 8.59 crore in the year ago period. Revenue from operations rose 48 per cent to Rs 104.32 crore during the period under review.

Mold-Tek Technologies is a KPO in structural engineering and designing services and it's both divisions- civil and mechanical- reported a decent set of numbers thanks to increase in revenues, improved operational efficiency and cost controls.

Mold-Tek Technologies is expecting demand for design services from automobile clients to go up significantly. It is focusing on electric vehicles domain and its looking increase the capacity both in-house and also through sub-contract to execute a greater number of orders we are receiving from clients in Europe and Mexico.
 

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