Monte Carlo hits 20% upper circuit on manifold jump in Q2 profits

New Delhi: Shares of Monte Carlo Fashions hit the 20 per cent upper circuit on Thursday after the company reported a strong set of numbers for the September 2021 quarter.

The smallcap apparel manufacturer reported a 665.46 per cent rise in the net profit to Rs 33.91 crore in the quarter ended September 2021 as against Rs 4.43 crore during the previous year quarter ended September 2020.

Following the update, shares of Monte Carlo Fashions zoomed 20 per cent, its daily circuit limit, to Rs 523.05 on BSE. The scrip had settled at Rs 435.90 on Wednesday.

BSE barometer Sensex, meanwhile, was trading at 60,086, 265.93 points or 0.44 per cent lower, at the time of writing this report.

Sales for the quarter under review rose 142.53 per cent year-on-year to Rs 238.29 crore during the said quarter as against Rs 98.25 crore in the corresponding quarter last year.

Shares of Monte Carlo Fashions have soared 180 per cent in the last one year and 35 per cent in the last one month.