 "Gujarat Pipavav hits lifetime high as Q2 profit doubles")
Gujarat Pipavav Port has surged 5% to Rs 175 after its net profit more than doubled to Rs 90 crore in the second quarter ended September 30, 2014 (Q2), on the back of strong operational performance. The company had registered a profit of Rs 44 crore in the same quarter last fiscal.
Total operational income of the company grew 35% to Rs 170 crore against Rs 126 crore in the corresponding quarter of previous fiscal, the company said in a filing to the stock exchanges.
EBITDA or operating profit margin expanded by nearly 800 bps to 56.4% from 48.6%, it added.
Meanwhile, the company said, it had repaid Rs 293 crore loan in August 2014 and become debt free.
The stock opened at Rs 175 and touched a lifetime high of Rs 185 on NSE. The trading volumes on the counter jumped more than four-fold with a combined 2.7 million shares changed hands till 1244 hours on NSE and BSE.
Total operational income of the company grew 35% to Rs 170 crore against Rs 126 crore in the corresponding quarter of previous fiscal, the company said in a filing to the stock exchanges.
EBITDA or operating profit margin expanded by nearly 800 bps to 56.4% from 48.6%, it added.
Meanwhile, the company said, it had repaid Rs 293 crore loan in August 2014 and become debt free.
The stock opened at Rs 175 and touched a lifetime high of Rs 185 on NSE. The trading volumes on the counter jumped more than four-fold with a combined 2.7 million shares changed hands till 1244 hours on NSE and BSE.
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