Shares of Parag Milk Foods Ltd. surged as much as 16% on Wednesday, November 12, extending gains for a second consecutive session after the company reported a robust set of earnings for the September quarter, led by healthy revenue growth and improved profitability.

Parag Milk's revenue rose 15.7% year-on-year to ₹1,007.9 crore from ₹871.3 crore, while net profit jumped 56.3% year-on-year to ₹45.7 crore from ₹29.2 crore.

EBITDA increased 18% to ₹71.2 crore compared to ₹60.4 crore a year earlier. Margins expanded slightly to 7.1% from 6.9% in the same period.

Gross margins expanded to 25.8% from 23.6% a year ago.

The company reported 10% year-on-year volume growth, led by strong performance in its core categories of ghee, cheese, and paneer, which saw 23% value growth and 14% volume gro

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