Ramkrishna Forgings hits a new 52-week high

Ramkrishna Forgings hit a new 52-week high today at Rs.824.95 after the company reported a turnaround for Q2FY18. It posted a net profit of Rs.23 crore v/s loss of Rs.5 crore in previous Q2. This improved performance was on the back of a 114% jump in net sales at Rs.333 crore.

Operating profit rose 130% at Rs.65 and thanks to the good cost management and improved topline, margins rose 150bps to 19.5%.

The company has explained that the good performance was due to to controlled processing charges and finance & employee cost.