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MTAR Technologies stock jumps 5% to hit upper circuit after Q1 results
The defence company said June quarter net profit nearly quintupled to ₹50.2 crore as revenue from operations more than doubled to ₹360 crore.
MTAR Technologies shares surged to the 5% upper circuit on Thursday, July 30, after the company posted strong Q1FY27 results announced after market hours the prior day, according to LiveMint Markets. The stock opened at ₹5,290 on the BSE and traded within an intraday range of ₹5,277 to ₹5,442.25.
In the June quarter, the company reported net profit of ₹50.2 crore, nearly five times higher year on year from ₹10.8 crore. Revenue from operations more than doubled to ₹360 crore from ₹157 crore.
Profitability improved further, with EBITDA rising to ₹85 crore from ₹28 crore and EBITDA margin expanding to 23.5% from 18.1%, the outlet said. Management also characterized the quarter as aligned with its growth guidance for the current fiscal year and said it believes key business verticals are positioned for a next phase of growth.
The article also cited technical analysis from SBI Securities, noting the stock is trading below its 20-day, 50-day, and 100-day exponential moving averages and that a resistance area around ₹6,050 to ₹6,100 is expected to cap near term moves.