Shares of Praj Industries Ltd surged 7% on 31 May after the company announced its quarterly report for January-March. 

The industrial biotechnology company reported a 4.3% year-on-year increase in its net profit to Rs 91.9 crore for the quarter under review from Rs 88.1 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations of the company during the quarter stood at Rs 1,018.6 crore, marking a 1.5% YoY increase from Rs 1,003.9 crore from the corresponding quarter of the previous fiscal year. 

On the operational front, the earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 21% YoY to Rs 131 crore against Rs 108 crore reported in Q4FY23. EBITDA margins expanded by 200 basis points to 12.8% in Q4FY24 from 10.8% in Q3FY23. 

The Board of Directors of the company announced a final dividend of Rs 6 per share for the fiscal year 2023-24, which is subject to shareholders approval at the annual general meeting. 

During the quarter ending 31 March, the company received orders worth Rs 924 crore, with a consolidated order book of Rs 3,528 crore. 

At 3:30 pm, the shares of Praj Industries closed 3.59% higher at Rs 518.95 on NSE.