Mining stock hits 20% upper circuit after its net profit grows by 1313% YoYMining stock hits 20% upper circuit after its net profit grows by 1313% YoY

Introduction:

Leading mining and iron ore company reported impressive Q3 results, with net profit soaring 1,313% YoY and 328.7% QoQ. Revenue from operations rose 522.5% YoY, reflecting strong growth, while total income surged 476.4% YoY in the same period.

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Share price movement of Sandur Manganese:

On February 17, 2025, Sandur Manganese & Iron Ores Ltd opened at ₹385.00, up 11.5% from its previous close of ₹345.35. The stock hit a high of ₹414.40 (18.78%) and a low of ₹372.05. By 12:05 PM, it traded at ₹410.20, rising 18.78%, with a market cap of ₹6,646.67 crore.

Sandur Manganese & Iron Ores Limited Reports Strong Q3 Growth:

Sandur Manganese & Iron Ores Limited achieved a remarkable 1,313% YoY increase in net profit, reaching ₹138.62 crore in Q3 FY24, up from ₹9.81 crore in Q3 FY23. On a QoQ basis, net profit surged 328.7% from ₹32.34 crore in Q2 FY24.

The company reported a substantial 522.5% YoY rise in revenue from operations, totaling ₹951.87 crore in Q3 FY24, compared to ₹153.02 crore in the same period last year. Sequentially, revenue grew 265.7% from ₹260.25 crore in Q2 FY24, reflecting strong operational performance.

Total income also saw significant growth, rising 476.4% YoY to ₹971.76 crore in Q3 FY24, from ₹168.46 crore in Q3 FY23. On a QoQ basis, total income grew by 240.6% from ₹285.40 crore in Q2 FY24, indicating robust financial expansion.

Stock performance of Sandur Manganese for Period of 1 week, 6 months and 1 year:

Sandur Manganese & Iron Ores Ltd has experienced a 6.84% decline in the past week, a 31.1% drop over the last six months, and a 24.0% decrease over the past year, reflecting overall challenges despite recent gains.

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Shareholding pattern of Sandur Manganese:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	74.20%	74.20%	74.20%
FII	1.10%	1.00%	0.80%
DII	1.50%	1.50%	1.50%
Public	23.20%	23.30%	24%

About Sandur Manganese:

The Sandur Manganese & Iron Ores Ltd (NSE: SANDUMA), established in 1954, is the third-largest manganese ore miner in India. The company mines low-phosphorus manganese and iron ore in Karnataka and manufactures ferro-alloys and coke at its Vyasankare plant.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.