AIA Engineering rises 3% as lower input costs drive strong margin performance
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Net profit of the castings and forgings player more than doubled to Rs 352.5 crore from Rs 138.2 crore a year ago.
The consolidated operating revenue was up 19 percent quarter-on-quarter (QoQ).
Shares of AIA Engineering climbed more than 3 percent on January 30 after the company reported strong operational performance along with a significant jump in net profit. At 2:22pm, the scrip was 2.2 percent higher at Rs 2,661.25 on the BSE.
The company’s total revenue from operations jumped nearly 45 percent on-year to Rs 1,226.9 crore in the December quarter. In the corresponding period last year, AIA Engineering had posted a revenue of Rs 848.1 crore.
The jump in sales was driven by 23 percent growth in volumes as well as healthy realisation increase of 18 percent on-year to Rs 169 per kg.
ICICI Securities pointed out that the company achieved its highest-ever realisation of Rs 169 per kg, up 18 percent YoY and 1.4 percent QoQ, on account of the company’s ability to pass on all the remaining increased input freight costs.
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