Man Industries saw its stock surge more than 8% after the company posted an improved performance for the September quarter. The topline may have grown only slightly, but the jump in profitability clearly caught the market’s attention. As of 9:29 AM, the shares were trading 8.62% higher at Rs 418.40

The company reported consolidated revenue of ₹834 crore, up 3.5% from ₹806 crore a year earlier. The standout number for the quarter was EBITDA, which rose sharply by 90% to ₹121 crore compared with ₹63.7 crore last year. With this, the operating margin expanded to 14.5%, a strong improvement from 7.9% in the previous year.

Net profit also moved higher, increasing 16.1% YoY to ₹37 crore versus ₹31.9 crore.

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