India Glycols surges on robust Q1 profit

Net profit for Apr-Jun 2015 jumped nearly five-fold to Rs 7.7 crore compared to same quarter last fiscal

Shares of India Glycols surged nearly 13% to Rs 112 after the company's net profit for the quarter ended June 30, 2015 surged nearly five-fold to Rs 7.7 crore compared with Rs 1.3 crore in the corresponding quarter last fiscal on the back of lower expenses.

Total expenses for the quarter under review declined 8% to Rs 650.6 crore compared with Rs 706.9 crore for the same quarter ended June 30, 2014.

However, total income from operations for the June 2015 quarter was lower at Rs 708 crore compared with Rs 730.7 crore in the same quarter last fiscal.

The stock opened at Rs 110 and touched a high of Rs 114. At 12:15PM, over 1.2 million shares were traded on both the stock exchanges.