Avanti Feeds shares gain up to 3% after positive Q3 results across parameters

Shares of Avanti Feeds Ltd. gained on Wednesday, February 11, as it reported its third quarter earnings.

Its December quarter results gained across all parameters.

Avanti Feeds' net profit increased 10.5% to ₹149.4 crore in the third quarter from ₹135.2 crore in the previous year.

It reported a revenue of ₹1,383 crore, up 1.3% from the previous year's ₹1,365 crore.

Avanti Feeds' earnings before interest, tax, depreciation and amortisation (EBITDA) increased 9.4% to ₹176 crore from ₹160.8 crore in the third quarter of the previous fiscal.

Its margin expanded as well to 12.7% from 11.8% in the year-ago period.

Shares of Avanti Feeds were trading 2.8% up at ₹1,163.25 apiece around 2.15 pm on Wednesday. The stock has gained 41% in the past month and 82.2% in the last six months.

Also Read: Ashok Leyland Q3 results largely in-line with estimates, EBITDA up 27%