HBL Engineering shares surge nearly 15%, hit record high after profit jumps over four-fold in Q2

Shares of HBL Engineering, the Hyderabad-based engineering company, rose as much as 14.58% to hit a record high of ₹1,122 on the National Stock Exchange (NSE) after the company reported its September quarter earnings on Saturday. On the BSE, HBL Engineering shares rose as much as 14.56% to hit fresh 52-week high of ₹1,121.95.

HBL Engineering shares were witnessing heavier than usual trading volume as 1.40 crore shares changed hands on the National Stock Exchange compared with an average trading volume of 10.34 lakh shares.

On the BSE, 11.50 lakh shares changed hands compared with an average of 99,000 shares traded daily in the past two weeks.

HBL Engineering emerged as the top gainer in the NIFTY Smallcap 100 index, data from the NSE showed.

HBL Engineering on Saturday reported consolidated net profit of ₹387 crore in second quarter of current financial year, marking an increase of 345% from ₹87 crore in the same period last year.

Its revenue from operations jumped 135 % to ₹1,223 crore in July-September period as against ₹521 crore in the year-ago period.

HBL Engineering reported strong operational performance as its EBITDA (earnings before interest, taxes, depreciation, and amortization) also known as operating profit jumped 400% to ₹544 crore from ₹109 crore and its EBITDA margin improved to 44% from 21% a year earlier.

HBL Engineering's revenue from electronics segment jumped eight times to ₹794 crore and its profit from the electronics segment climbed 22 times to ₹461 crore from ₹21 crore in the year-ago period.

Revenue from industrial batteries segment rose 2% to ₹387.56 crore, revenue from defence and aviation batteries segment declined 14% to ₹380 crore and revenue from unallocated business 73% to ₹13 crore.

As of 11:45 am, HBL Engineering shares traded 11.91% higher at ₹1,096 outperforming the NIFTY Smallcap 100 index which was up 0.52%.