This was on better-than-expected June quarter performance, strong order flows and earnings revisions by brokerages.
The stock has been one of the major outperformers among EMS players since the start of the year, with gains of 64 per cent compared to a 10 per cent rise for the Sensex.
The company's revenues in the quarter were 70 per cent more than the year-ago period and powered by the industrial and automotive segments.
Though gross margins slid 349 basis points (bps) year-on-year (Yo-Y) on an unfavourable business mix to 27.3 per cent, the margin slip was contained at the operating level to 28 bps.
Benefits from operating leverage helped the company report margins of 13.3 per cent. The gains were on account of lower employee and other expenses as a percentage of sales.
This story is from the August 10, 2024 edition of Business Standard.
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This story is from the August 10, 2024 edition of Business Standard.
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