Artson Engineering‘s share price remained upbeat as the company posted its results for the quarter ended March.
What Happened: The Tata Group company’s net profit swung into the black for the Jan-March period at ₹1.31 crore, compared to the ₹9.96 crore loss booked in the same period last year. However, a huge chunk of that was from deferred tax of around 1.11 crore.
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The company’s revenue from operations was down around 15% at ₹24.87 crore as compared to the ₹29.30 crore revenue posted in the same quarter last year. The stock was upbeat today ahead of the results.
The company is a subsidiary of Tata Projects, which owns around 75% of the micro-cap company. Tata Projects acquired the 75% stake in the Hyderabad-based company in 2007-08. The company caters mainly mainly to the Indian market and also has experience working in middle-east and Gulf Countries.
Price Action: Artson Engineering's share price was locked in 5% upper circuit at ₹157.25 on Tuesday.
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