Shares of DFM Foods surged over 20 percent to Rs 293 on Thursday after the food processing company posted a near 52 percent jump in the first-quarter profit.

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At 10.00 AM, the stock was trading 10.57 percent up at Rs 270 on the National Stock Exchange, while the Nifty50 was down 21.75 points, 0.19 percent, at 11,665.75.

DFM Foods, the maker of Crax corn rings and cheese balls, reported a profit of Rs 7.63 crore in the three months ended June 30 versus Rs 5.01 crore last year. Revenue rose to Rs 127.72 crore versus Rs 98.69 crore in the corresponding period last year.

During the quarterly result announcement, the company also said that it has taken an industrial premise on a long-term lease in Greater Noida, Uttar Pradesh for future expansion of its business at a cost of Rs 20 crore.

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