NEW DELHI: Shares of DCM Shriram surged 4 per cent in Wednesday's trade after company posted a 88.21 per cent jump in its consolidated net profit at Rs 171.95 crore in the September quarter of the current fiscal on strong sales.

Following the development, the stock gained 4.46 per cent to Rs 565.05 on BSE. It opened at Rs 580 and touched an intraday high and low of Rs 595 and Rs 560 respectively.

Its net profit stood at Rs 91.36 crore in the same quarter last year, the city-based company said in a regulatory filing.

Total income increased sharply to Rs 1,620.53 crore in the July-September period of the current fiscal from Rs 1,456.16 crore in the year-ago period.

Promoters held 63.88 per cent stake in the company as of September 2017.

The scrip touched its fresh 52-week high of Rs 595 today on November 8, 2017 and its 52-week low of Rs 195.85 on December 26, 2016.