MM Forgings forges ahead!
By
Research Desk
about 10 years ago
MM Forgings, a Tamil Nadu based company posted a very robust set of numbers and that’s the reason why we are seeing a lot of action on this counter today. From a close of Rs.483, it opened today at Rs.503, going on to hit an intra day high at Rs.525.
For Q2FY15, the company posted an exuberant 86% (YoY) jump in net profit at Rs.13 crore and this was on a 24% rise in net sales at Rs.122 crore. Sequentially though the topline and bottomline are flat, clearly reflecting the lower base effect for YoY numbers. The most enthusing part- its net profit for H1FY15 stood at Rs.26 crore and with two more quarters to go, it is already at FY14 net profit of Rs.29 crore. Surely it will end the current fiscal on a much higher note.