 "Chambal Fertilisers soars on strong Q1 results")
Chambal Fertilisers & Chemicals has moved higher by 16% to Rs 72.75 on the BSE amid heavy volumes after the company reported a strong 80% year-on-year (YoY) jump in net profit at Rs 146 crore for the quarter ended June 30, 2015 (Q1), because of higher other income and lower interest costs. The fertilisers company had posted a profit of Rs 81 crore in the year-ago quarter.
Net sales of the company grew 22% at Rs 2,440 crore on a Y-o-Y basis, Chambal Fertilisers & Chemicals said in a statement.
Analysts on an average had expected net profit of Rs 99 crore on net sales of Rs 2,073 crore for the quarter.
Other income in the quarter under review more than double at Rs 66.81 crore against Rs 29.09 crore in the previous year quarter. Finance cost of the company declined 25% at Rs 32.98 crore on Y-o-Y basis.
At 01:35 PM, the stock was up 13.5% at Rs 71.40 on the BSE. The trading volumes on the counter jumped more than five-fold, with a combined 4.81 million shares changing hands on the BSE and NSE so far.
Net sales of the company grew 22% at Rs 2,440 crore on a Y-o-Y basis, Chambal Fertilisers & Chemicals said in a statement.
Analysts on an average had expected net profit of Rs 99 crore on net sales of Rs 2,073 crore for the quarter.
Other income in the quarter under review more than double at Rs 66.81 crore against Rs 29.09 crore in the previous year quarter. Finance cost of the company declined 25% at Rs 32.98 crore on Y-o-Y basis.
At 01:35 PM, the stock was up 13.5% at Rs 71.40 on the BSE. The trading volumes on the counter jumped more than five-fold, with a combined 4.81 million shares changing hands on the BSE and NSE so far.
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