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Ujaas Energy shares rally 68% after June-quarter profit rises 31% YoY
The NSE sought clarification after the stock hit repeated upper circuits, and the company said it had no undisclosed information to explain the move.
Ujaas Energy shares jumped 68% over the week, closing at ₹257.80, its highest level since October 2023, after the company reported stronger June-quarter results, according to LiveMint Markets. In the June quarter, Ujaas Energy said net profit rose 31% year-on-year to ₹3.25 crore, up from ₹2.49 crore in the same quarter a year earlier. Profit also improved sequentially from ₹0.42 crore in the March quarter.
The company reported total revenue increased 11% year-on-year to ₹10.22 crore, compared with ₹9.21 crore in the year-ago period. LiveMint Markets also noted that revenue growth was supported by other income rising to ₹7.19 crore from ₹6.56 crore, which the company described as a 466% increase versus ₹1.27 crore in the March quarter. Ujaas Energy said the manufacturing and sale of solar power systems remained its largest revenue contributor at ₹6.67 crore, while solar power plant operations revenue grew to ₹3.15 crore from ₹2.54 crore a year earlier. LiveMint Markets reported that the NSE sought clarification on the unusual price movement, and the company replied that it had no information or undisclosed developments that could explain the sharp change in share price or trading volume.