Steamhouse India shares hit upper circuit as Q1 profit rises 80%
Shares of Steamhouse India rose 10% to the upper circuit at Rs 118.45 on the BSE on Tuesday after the company reported an 80.25% rise in first-quarter net profit to Rs 18 crore from Rs 10 crore a year earlier. Revenue from operations grew 13.35% to Rs 129 crore and margins improved 700 basis points to 24.05%. Steam supply volumes rose 16.70% year-on-year, the company said. The stock listed on September 17 at a 17% premium to its Rs 81 issue price, after an IPO subscribed nearly 32 times.