Bharat Gears has galloped 20% to Rs 70.70 on reporting over two-fold jump in net profit at Rs 8.20 crore for the third quarter ended December 2011 on the back of higher income. The auto parts and equipment maker had a net profit of Rs 3.65 crore in a year ago quarter. Net sales grew by 33% at Rs 112 crore on year-on-year basis in the recently concluded quarter.

In a filing to the stock exchanges, the company said that it has earned Rs 3 crore other incomes as profit on sale/transfer of leasehold rights in respect of company’s leasehold land.

The trading volumes have surged considerably, as 159,589 shares have already changed hands so far, against an average sub 7,000 shares that were traded daily in past two weeks on the NSE and BSE.