Market cheers Spectacular show by Deep Industries

Deep Industries share price shot up by 5.7% after quarterly results were announced. It opened at Rs.196.55 and is current trading at Rs.199.50. Net sales/Income (top line) from operations increased over 200% to Rs.64.39 cr as compared to Rs.27.26 cr in the June quarter last year (YoY). The net profit (bottom line) was recorded to increase over 200% to Rs.16.31 cr against Rs.6.73 in the June quarter a year ago (YoY).     

Expenditure on consumption of raw materials for the June quarter stood at Rs.19.08 crore against Rs.5.53 crore in the last year in the same quarter. A minor increase in the employees cost was witnessed from Rs.3.24 crore to Rs.4.43 crore as compared to the June quarter last year (YoY). The EPS increased 2 times to Rs.5.59 cr since last year’s June quarter where it stood at Rs. 2.31 cr. 

However, other expenses reduced drastically. In the March quarter, other expenses amounted to Rs.11.32 crore while in the present quarter it reduced to Rs.3.17 crore. 

As per Dynamic Levels research Team, Deep Industries ranks amongst the Multibagger Stocks, out of the Top 500 Shares recognized at the end of every month. Deep Industries looks to be a great investment opportunity that can offer a good return. The company is traded in very high volumes and presently  612796 shares have been sold on NSE since morning. 

For more details on the fundamentals and financials of the stock, please visit Deep Industries share price history.