Swaraj Engines Zooms 6% On Jump In March Quarter Profit

Meanwhile, Swaraj Engines announced a dividend of Rs 50 per share for FY2021

Swaraj Engines shares rallied more than 5 per cent on the BSE after the company reported strong set of numbers for the March quarter. At 2:50 pm, the shares of Swaraj Engines were trading at Rs 1447.55, higher by 6.41 per cent on the BSE.

Swaraj Engines reported a profit of Rs 32.56 crore in the March quarter, up 105.6 per cent over the previous year’s corresponding quarter. It achieved engine sales of 33,831 units in the fourth quarter, up 62 per cent year on a year-on-year basis.

The company’s net operating revenues grew 74 per cent YoY at Rs 305 crore, earnings before interest, taxes, depreciation, and amortization (Ebitda) jumped 97.5 per cent YoY at Rs 46.20 crore and Ebitda margins improved 179 basis points to 15.1 per cent.

Meanwhile, the company announced a dividend of Rs 50 per share for financial year ended March 2021.

The Sensex had rebounded from intra-day lows and was trading at 48,040.55, higher by 341.25 points and the NSE Nifty was at 14,400.85, up 106 points.

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