Safari Industries rose 15% to Rs.549, going on to hit a new high today at Rs.549; it had earlier hit a new high yesterday at Rs.490.

The company which makes plastic molded suitcases, plastic molded briefcases and vanity cases, posted a very good set of numbers for Q2FY18. It posted a 16% (YoY) rise in total income at Rs.88 crore and a 265% jump in net profit at Rs.3.5 crore. Lower costs helped boost the bottomline – total expenses were at 93% of total income in current Q2 v/s 96% in previous Q2. Also in Q2FY17, there was an exceptional expense of Rs.70 lakh.

The company’s net profit for H1FY18 stands at Rs.8 crore, which is already 80% of entire FY17 profit of Rs.10 crore; clearly it will end current fiscal on a much higher note.

The company’s equity is at Rs.4.15 crore, with Rs.2 face value and annualized EPS is at Rs.6.50.