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ITI shares surged 14 per cent on the back of stellar performance in the third quarter on Tuesday. The company announced Q3 results on Monday.
According to the BSE release, on a sequential basis, ITI Ltd has reported net profit of Rs 168.25 crore for the third quarter ended December 2019 against Rs 7.19 crore shown in the September 2019 quarter. The company's revenues almost doubled to Rs 827.95 crore for the December quarter of 2019 against Rs 419.50 crore shown in the September quarter 2019.
On the BSE, the stock climbed 11 per cent to Rs 101.75. It touched an early high of Rs 105.95 today. Volumes traded in the counter were 3.17 lakh shares, which were three times the two-week average traded quantity of 1.12 lakh shares.
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