Honda India Power stock surges 45% in a month

18 Nov 2022 , 11:40 AM

In intraday trading on Friday, shares of Honda India Power Products reached a record high of Rs 2,357.05, up 9% on the BSE. The S&P BSE Sensex, in contrast, was down 0.26% at 61,588 at 10:13 AM. The industrial equipment company’s stock has increased by 45% over the past month after it posted strong earnings for the quarter that ended in September 2022 (Q2FY23), outpacing the Sensex’s 4.5% gain.

The company’s profit after tax (PAT) increased by 167% year over year (YoY) to Rs 42.42 crore in Q2FY23, thanks to strong operating income. In Q2FY22, it reported PAT of Rs 15.90 crore, up from Rs 4.91 crore the quarter before (Q1FY23). At Rs 394 crore for the quarter, operating revenue increased by 70.5 % year over year and 97% sequentially. The ebitda margin, which measures earnings before interest, taxes, depreciation, and amortisation, increased 564 bps year over year to 14.29%. In Q1FY23, the Ebitda margin was 2.82 %.

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