Shares of Bharat Bijlee surged over 3% on Monday to hit a new 52-week high of ₹3,145. As per the latest shareholding data, ace investor Ashish Kacholia owns a 1.79% stake in the company.
What Happened: The stock is upbeat today as the consumer durables company posted its earnings for the March quarter last week (May 26). The company’s revenue from operations grew by 23.04% year-over-year to ₹429.78 crore in the March quarter. Net profits for the quarter more than doubled at ₹26.86 crore as against ₹11.61 crore in the same quarter last year.
The electric-motor maker’s EBITDA for the January-March period stood at ₹38.7 crore up multifold from the ₹14.28 crore EBITDA it reported in the same period last year. EBITDA margin stood at 9.01%. Earnings per share for the quarter stood at ₹47.53. The company also announced a ₹40/share dividend for the year ended March.
With the surge today, the stock added up to ₹1.1 crore to Ashish Kacholia’s net worth. Moreover, Kacholis will also receive ₹40.54 lakh in dividends for his 1.01 lakh shares.
Price Action: Bharat Bijlee shares were up 1.01% to trade at ₹3,073.95 in the late hours of trading on Monday.
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