Centum Elect locked in upper circuit

Centum Electronics is locked on the 10% upper circuit at Rs.118.60 and this for the second consecutive day in a row. The stock which has a market cap of Rs.146 crore is the limelight post its Q2 performance.

This company, making electronics, especially for the defense and aerospace posted a robust net profit on strong revenue growth. Consolidated net sales rose 78% at Rs.112 crore and this pushed up the net profit to Rs.10 crore compared to the net loss of Rs.12 crore in Q2FY13.

For H1Fy14, net profit has come in at Rs.17 crore and this has already surpassed the net profit of Rs.9 crore it had posted for entire fiscal FY13.