Read why NECC shares soared around 4%

NECC shares: NECC declared a 50 per cent climb in the net profit on a year-on-year (YoY) basis to Rs 1.48 crore in the June 2023 quarter, which was at Rs 0.96 crore in the year-back period.

NECC shares (North Eastern Carrying Company) rose approximately 4 per cent during the trading session Wednesday after the firm reported a strong performance in March 2023. The business said its results in an exchange filing on Monday, August 14.

NECC announced a 50 per cent climb in the net profit on a year-on-year (YoY) basis to Rs 1.48 crore in the June 2023 quarter, which was at Rs 0.96 crore in the year-back period. The firm had clocked a bottom bar of Rs 1.12 crore in the March 31, 2023 quarter.

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Operating income improved to Rs 83.85 crore in the first quarter of the proceeding financial year, at Rs 82.09 crore in the year-back period. However, the firm said earnings from operations on a sequential basis surged around 14 per cent to Rs 73.38 crore.

North Eastern Carrying Company, NECC shares surged nearly 4 per cent during the trading session to Rs 19.92 on Wednesday. The business commanded a total market capitalization of roughly 190 crore. The shares were at Rs 19.38 in the earlier trading session on Monday.