Shares of this sugar company soared to 13 per cent!
The stock has been gaining for the past five consecutive sessions, and has gained over 25.75 per cent.
The shares of Triveni Engineering and Industries, soared by 12.50 per cent, on Wednesday, only to end 13.49 per cent higher, at Rs 317.50, on the BSE.
Triveni Engineering & Industries, incorporated in 1937, is engaged in the business of manufacturing sugar, steam turbines and projects and engineering activities. The company has a strong global presence through strategic tie-ups and joint ventures with dealers and representatives in Finland, Ireland, Venezuela, Holland, Germany, US, Nepal, Bangladesh, Vietnam, Malaysia, Singapore, Indonesia, Sri Lanka, Uganda, Tanzania, West Indies, Kenya and Pakistan.
Triveni is one of India's largest sugar manufacturers with seven state-of-the-art FSSC 22000 certified sugar units. These units are located strategically in the sugarcane-rich belt of Uttar Pradesh. Our integrated operations are designed to produce multi-grade sugar, potable alcohol, fuel-ethanol, and power from bagasse.
The company reported a rise of 8.12 per cent in its net profit for the quarter ended on March 31, 2022. The net profit was reported at Rs 101.84 crores compared to Rs 94.19 crore in Q4FY21. The net sales were at Rs 1192.12 crore as against the figure of Rs 1188.07 crore, up by 0.34 per cent. The operating profit for Q4FY22 was at Rs 177.66 crore vis-à-vis Rs 174.72 crore, for the same quarter last year.