 "Aarti Industries extends gains on good Q1 results")
Aarti Industries was trading higher by 5.4% at Rs 429, extending its previous day’s 7% rally on the BSE, after the company reported a strong 47% year-on-year (YoY) jump in net profit to Rs 60.90 crore for first quarter ended June 30, 2015 (Q1), due to a fall in RM prices, trailing lower crude prices.
The company had reported a net profit of Rs 41.43 crore in same period last year.
Total income for the quarter ended June 30, however, declined by 7.7% to Rs 683.07 crore on a Y-o-Y basis.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved by 400 basis points to 19.31% in the June quarter from 15.28% in the corresponding quarter of previous year.
The chemical manufacturer said it expects to commission the second phase of its NCB (nitrocholoro benzene) expansion, thereby scaling it up from 57,000 tpa (tonnes per annum) to 75,000 tpa by the end of Q2FY16, the company said.
The recently concluded US Food and Drug Administration (USFDA) inspection had been favourable for the company. This would facilitate and expedite faster approvals for various APIs in pipeline, thereby increasing the presence in the regulated markets, Aarti Industries added.
The stock hit a record high of Rs 431 on the BSE in early morning trades. Till 09:41 AM, a combined 182,344 shares changed hands on the counter on the BSE and NSE.
The company had reported a net profit of Rs 41.43 crore in same period last year.
Total income for the quarter ended June 30, however, declined by 7.7% to Rs 683.07 crore on a Y-o-Y basis.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved by 400 basis points to 19.31% in the June quarter from 15.28% in the corresponding quarter of previous year.
The chemical manufacturer said it expects to commission the second phase of its NCB (nitrocholoro benzene) expansion, thereby scaling it up from 57,000 tpa (tonnes per annum) to 75,000 tpa by the end of Q2FY16, the company said.
The recently concluded US Food and Drug Administration (USFDA) inspection had been favourable for the company. This would facilitate and expedite faster approvals for various APIs in pipeline, thereby increasing the presence in the regulated markets, Aarti Industries added.
The stock hit a record high of Rs 431 on the BSE in early morning trades. Till 09:41 AM, a combined 182,344 shares changed hands on the counter on the BSE and NSE.
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