KRN Heat Exchanger & Refrigeration Surges Almost 6% After Company Declares 43% Jump In PAT Of 1st Results Post IPO

KRN heat exchangers and refrigeration shares shot up more than 5 per cent on the NSE (National Stock Exchange) after a company providing industrial heating solutions posted their 1st ever quarterly result after listing, which revealed a massive jump of 43 per cent in net profit of Q2 FY25, pushing the figure to Rs 12.31 crore, compared to Rs 8.61 crore in same quarter of previous financial year

The touched a day high level of Rs 483.45 per share on the NSE (National Stock Exchange) after hitting the opening bell at Rs 455.00 per share on the Indian bourses.

The shares of KRN heat exchangers and refrigeration were trading at Rs 462.87 per share, with 1.38 per cent surge amounting to a Rs 6.32 per share on the indian stock markets

KRN heat exchangers and refrigeration Q2 FY25

In the quarter that ended in September 2024, KRN Heat Exchanger and Refrigeration, a manufacturer of heat exchangers, reported a 42.9 per cent increase in its consolidated net profit to Rs 12.31 crore. The net profit for the same period last year stood at Rs 8.61 crore.

Q2 FY25 Total income

In the second quarter of fiscal year 2024–25, revenue from operations increased 27.9 per cent to Rs 91.09 crore from Rs 71.19 crore in the second quarter of FY24.

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Compared to Rs 72.06 crore during the same period last fiscal year, the total income increased by 28.4 per cent to Rs 92.54 crore during the most recent July-September quarter.

MoU with Rajasthan government

The Rajasthan government and the company's wholly-owned subsidiary, KRK HVAC Products, signed a memorandum of understanding (MoU) on Saturday for investments totalling RS 1,000 crore in a facility for manufacturing heat exchangers.

IPO details of KRN heat exchangers and refrigeration

The shares of KRN Heat Exchanger and Refrigeration made a spectacular debut on the stock exchanges earlier this month, listing at Rs 480 on the NSE, up 118 per cent from the Rs 220 issue price. The stock opened at a premium of 114 per cent at Rs 470 on the BSE.

213.26 times subscriptions were made for the initial share sale. A total of 1.55 crore shares were issued in the Rs 342 crore IPO.