Shares of Apar Industries rose 16% in weak intraday trade on Tuesday, hitting a fresh high of Rs 2,230 on the BSE. Over the past six sessions, the company reported a massive 210% year-on-year jump in consolidated profit to Rs 170 crore for the December quarter (Q3FY23), with shares up 58% on its operating performance.

Shares of the world’s largest conductor maker and India’s largest maker of renewable cables have soared 245% in the past nine months. Today, it surpassed the previous high of Rs 2,045 hit on February 2, 2023. In contrast, the S&P BSE Sensex was down 0.69% at 60,089 at 1:05 pm.

The company’s consolidated sales rose 76.9% YoY to Rs 3,942 crore in Q3FY23. Ebitda rose 199% year-on-year to Rs 349 crore, and EBITDA margin expanded 360 basis points year-on-year to 8.8% on higher gross margin.

According to management, the company witnessed volume growth across all three divisions, and net profit tripled year-on-year.