Diamond Power sparkles

Diamond Power Infra is doing exceedingly well today morning on the back of its very good Q2FY15 numbers. Opening 6% higher over previous close of Rs115.75, the stock went on to hit an intra day high at Rs.133 and currently remains at Rs.128 levels, up over 11%.

The company, engaged in manufacturing of power cables and transmission towers, posted a 11% (yoY) rise in consolidated net profit at Rs.40 crore on a 11% rise in net sales at Rs.89 crore. The market is especially enthused by the fact that its net profit for first half is already at Rs.77 crore, which is 70% of FY14 net profit thus holding the promise of a much higher current fiscal, with two more quarters to g.