Endurance Technologies shares surge 14% on strong Q4 results, more than 50% rise in net profit

The company declared its results for the fourth quarter of FY24 and the full fiscal year on May 16.

Automotive parts manufacturer Endurance Technologies shares surged more than 14% to touch an intraday high of ₹2,315 apiece on the NSE on Friday.

The company’s total income grew more than 20% to ₹2,711 crore in Q4FY24 from ₹2,255 crore in the corresponding quarter of previous fiscal year. The company’s total income for the March quarter grew by nearly 5% from ₹2,588 crore in the December quarter.

The company’s total income for FY24 grew by more than 16% to ₹10,326 crore against ₹8,849 crore in FY23.

The automotive company’s profit after tax (PAT) for the March quarter increased 54% to ₹210 crore against ₹136 crore a year-ago. Sequentially the company’s profit after tax increased 38% from ₹152 crore in the December quarter.

In FY24 the automotive sector company’s profit after tax surged 42% to ₹680.48 crore from ₹479.57 crore in FY23.

The company has also announced an 85% final dividend of ₹8.5 per equity share of face value of ₹10 each, for the financial year 2023-24.

Shares of Endurance Technologies Ltd closed at ₹2,168 apiece, up 7.02%, on the NSE.