Shivam Autotech Ltd.’s shares were up by 11.78 per cent after the company reported a 293 per cent increase in profit for the quarter ended June 30, 2023, at Rs 12.60 crore compared to Rs 320 lakh during the corresponding quarter last year.
The company’s revenues were down by 8 per cent to Rs 107.98 crore compared to Rs 117.62 crore last year. Sequentially, the company’s profits were higher by 14 per cent compared to Rs 11.05 crore in the previous quarter.
The shares were up by 11.8 per cent to close at Rs 32.73 at close on the BSE.