Shares of Kirloskar Brothers ended locked in an upper circuit of 20 percent to hit a 52-week high on Thursday after the company's net profit nearly doubled year-on-year in the March quarter.

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The company reported a 93 percent growth in its net profit to Rs 90.7 crore for the March quarter, compared to Rs 47 crore during the same period last year.

The company had reported a net profit of Rs 89.2 crore during the December quarter.

Revenue from operations for the quarter increased by 17.8 percent year-on-year to Rs 1,124.6 crore compared to Rs 954.4 crore last year.

Operating profit or EBITDA for the quarter increased by 53.1 percent from last year to Rs 145.1 crore from Rs 94.8 crore in the year-ago quarter.

The EBITDA margin expanded by 300 basis points to 12.9 percent in the March quarter from 9.9 percent in the same quarter last year.

Earnings per Share for the quarter increased to Rs 12.62 in the March quarter from Rs 6.86 crore last year and Rs 11.16 in December.

The company's board has also approved a dividend of Rs 4.5 per share along with the results. Record date for the same will be determined later.

Shares of Kirloskar Brothers ended in a 20 percent upper circuit at Rs 506.40. The stock has surged over 60 percent so far on a year-to-date basis.