Delhi-based steel company Prakash Industries is seeing a rise in share price today after its December quarter results announcement showcased strong earnings. The company said that the net profit yoy rose as much as 460% to Rs. 101.3 crore, while revenues rose 55% to Rs. 721 crore. Margins have improved significantly, to 20.7% compared to 13.2% in the same period last year. 

The company is bullish on upcoming growth - says that capacity expansion and demand growth is expected to drive volume increases for Q4 to be 35%. EBITDA margins, the firm said, will continue to rise from the current level in Q3. Rakesh Jhunjhunwala has been raising his stake in Prakash Industries over the last three quarters.