Shares of Solar Industries India Ltd rose on Tuesday after the company reported a 78.8 percent increase in consolidated net profit for the September quarter. The stock was trading at Rs 19,877 per share, up 2.26 percent, at around 3 pm. It had surged nearly 7 percent during the session following the earnings announcement. The company reported a consolidated net profit of Rs 617 crore in the second quarter, compared with Rs 345 crore in the corresponding period last year.

Revenue from operations rose 69 percent to Rs 3,519 crore from Rs 2,082 crore in the year-ago period. The company's operating performance also improved, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 81.9 percent to Rs 1,006 crore, compared with Rs 553 crore a year earlier. EBITDA margin expanded to 28.6 percent from 26.6 percent in the corresponding quarter last fiscal, an improvement of 200 basis points.

Solar Industries expressed confidence in exceeding its earlier revenue guidance of Rs 14,000 crore. The quarterly results come weeks after the company announced plans to acquire South Africa-based chemical solutions company Omnia Holdings in a deal valued at around Rs 12,951 crore.