Stock market news: Hardwyn India shares are trading higher on the back of a 15 percent rise in September quarter profit

Hardwyn India said its net profit reached Rs 1.34 crore in the quarter, compared to Rs 1.16 crore it reported in the same quarter of the previous fiscal.

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Stock market news: Shares of Hardwyn India traded higher on Monday on strong quarterly results in the July to September period. The stock made an intraday high of Rs 38.29 after opening at Rs 37.71. Hardwyn is a small business operating in the commercial services sector. It is a leading Indian manufacturer of architectural hardware.

The Delhi-based company supplies furniture fittings and high-quality door fittings. It has announced its financial results for the quarter ended September 30. Hardwyn India said net profit reached Rs 1.34 crore in the quarter, compared to Rs 1.16 crore it reported in the same quarter of the previous fiscal.

Net sales stood at Rs 36.42 crore in the quarter. This shows an increase of 4.41 percent from Rs 34.88 crore in Q2FY23. The company said expenses for the September quarter stood at Rs 34.52 crore.

In the first six months of the current fiscal year, net sales rose 5.03 percent to Rs 63.50 crore. Operating profit rose 10.6 per cent to Rs 3.81 crore and net profit 15.42 per cent to Rs 2.35 crore.

The shares of Hardwyn India Ltd are listed on both BSE and NSE. It specializes in the production of architectural hardware and glass fittings for residential and commercial construction. The stock delivered multibagger returns of 815 percent in just two years and more than 2,300 percent in three years.