Gujarat Flurochemcials at new high on four-fold jump in Q1 net

Gujarat Flurochemicals has rallied 10% at Rs 491 after reporting almost four-fold jump in net profit at Rs 160 crore for the first quarter ended June 30, 2011 on back of higher income from operations. The company had reported a net profit of Rs 41.96 crore in the corresponding quarter of previous fiscal.

Total operating income grew 181% at Rs 519 crore on y-o-y basis. Profit margins have improved by more than 700 bps each, with OPM increased to 50.54% and NPM at 30.82% in Q1FY12 over the previous year quarter.

The stock hit a lifetime high of Rs 508 after opening at Rs 460 on the National Stock Exchange (NSE). A combined 306,168 shares have changed hands on the counter till 1008 hours, against an average around 200,000 shares traded daily in past two weeks.