Stock market news: Talbros Auto hits upper circuit after robust Q4 results

New Delhi: Shares of Talbros Automotive Components hit the upper circuit during the early trade on Wednesday as the company reported a manifold jump in the net profit in the quarter ended on March 31, 2021.

The auto component maker reported a multifold rise in consolidated profit to Rs 12.7 crore for the March 2021 quarter, backed by product mix and higher capacity utilisation. The company had posted a consolidated profit of Rs 2.4 crore in the fourth quarter of 2019-20.

Shares of Talbro Automotive jumped 20 per cent to Rs 311.40, the upper circuit limit, on Wednesday. BSE Sensex was trading at 52,379.55, up by 104 points or 0.20 per cent at the time of writing this copy. The counter settled at Rs 259.50 on Tuesday.

The company's income from operations rose 73 per cent to Rs 160.4 crore during the March 2021 quarter, compared with Rs 92.5 crore in the March 2020 quarter.

Talbros Automotive has delivered up to 300 per cent return in the last one year to Rs 311.40, its new 52-week high on Wednesday from Rs 79 in July 2020. The counter is up 52 per cent in the last one month.

For the financial year 2020-21, the consolidated profit rose 70 per cent to Rs 24.4 crore as against a profit of Rs 14.3 crore a year ago. Total income from operations stood at Rs 453.2 crore in 2020-21, a 15.9 per cent growth as compared with Rs 391 crore revenue in 2019-20.