Shares of milk producer Hatsun Agro Products hit fresh yearly highs after first quarter profit surged four-fold on the back of a jump in sales.
Chennai-based Hatsun reported a PAT of `28.7 crore rupees for the April-June quarter compared with 7.3 crore rupees for the same quarter last year. Sales surged 20 percent to `867 crore rupees in the past three months compared with `703 crores in the year ago quarter.
Hatsun surged 10.6 percent, or 41.6 rupees, at 433 rupees on the National Stock Exchange. More than 178,000 shares were traded before noon compared with a 5-day average of 16,300 shares.
Hatsun is India's largest dairy in the private sector. It makes ghee, paneer, ice creams and its products are exported to 38 countries across the globe. Hatsun's market capitalization has appreciated 55 percent over the last 1 year to 4,760 crore rupees.
(Image credit: Indiatimes)