Shares of Bikaji Foods International rose in early trade on Friday after the snack maker’s March quarter net profit tripled.

What Happened: Bikaji Foods International reported a massive 200% surge in net profit, reaching ₹116.28 crore for the quarter ending March 31, compared with ₹38.67 crore in the same period last year.

The snack giant’s revenue from operations grew by 12.8% to ₹520.82 crore in the March quarter, up from ₹461.69 crore a year earlier.

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EBITDA also showed a positive trend, increasing by 10.2% to ₹67.5 crore from ₹61.3 crore in the previous year, with the margin standing at 13%.

Bikaji Foods’ total expenses also surged to ₹471.20 crore in the quarter versus total expenses of ₹415.43 crore a year ago.

In addition, the board approved a final dividend of ₹1 per equity share.

Price Action: Bikaji Foods International’s share price gained 5.50% to trade at ₹564.05 near the start of trade on Friday. The stock surged up over 9% to hit an intraday high of ₹584.70.

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