Antony Waste Handling Cell Ltd (AWHCL) shares jumped more than 6% to hit a 52-week high on Monday after the company reported a robust 20% growth in core operating revenue in the second quarter of financial year 2024.

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The stock opened higher and rallied a little over 6% to hit its year’s high of Rs 435.70 on BSE in morning deals. Trading volume surged by over two times on the bourse.

The stock had traded at a year’s high level on Friday as well after it announced the commissioning of its waste-to-energy power plant and commencement of commercial sale of power to Pimpri Chinchwad Municipal Corporation.

AWHCL on Monday stated that its core operating revenue jumped by 20% in the September quarter compared to the year-ago period. The revenue includes tipping revenue from C&T, waste processing, and mechanical power sweeping operations.

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The growth was led by higher tipping fees and revenues from fixed shifts, trips, and household fees, building on a 14% year-on-year growth in Q1FY24, the company said.

AWHCL also witnessed record-breaking sales of Refuse Derived Fuel (RDF), with total RDF sales reaching 29,000 tonnes.

The company had RDF sales of around 10,400 tons in the year-ago period and 27,700 tons in Q1FY24.

Compost sales for the quarter were lower at 2,200 tonnes due to lower offtake of fertilizers in Maharashtra and Gujarat, mainly due to weaker-than-expected monsoon. AWHCL is an industry leader in sustainable municipal solid waste management solutions.

AWHCL shares are trading 5.23% higher at Rs 431.30 on BSE at 12 pm on Monday.

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(Edited by : Asmita Pant)