Bhansali Engineering Polymers up 5% on robust Q3 results

The stock locked in upper circuit of 5% at Rs 209 on BSE after the company reported nine-fold jump in net profit at Rs 291 million in Q3FY18.

Bhansali Engineering Polymers was locked in upper circuit of 5% at Rs 209 on BSE after the company reported nine-fold jump in net profit at Rs 291 million for the quarter ended December 2017 (Q3FY18), on back of strong operational income.

The company engaged in specialty chemicals business had profit of Rs 31 million in the same quarter last fiscal.

Operational revenue during the quarter under review more than doubled to Rs 2,579 million from Rs 1,229 million in the corresponding quarter of previous fiscal.

The company posted net profit of Rs 711 million for the first nine months (April-December) of current fiscal 2017-18. It reported profit of Rs 348 million during the entire previous financial year 2016-17.

In past one year, the stock zoom 713% against 28% rise in the S&P BSE Sensex. It hit an all-time high of Rs 212 on January 5, 2018 on BSE in intra-day trade.

Till 10:00 AM; a combined 1.59 million shares changed hands and there were pending buy orders for 259,050 shares on BSE and NSE.