 "J B Chemicals surges 14% on strong Q1 results")
J B Chemicals and Pharmaceuticals has surged 14% to Rs 194 on National Stock Exchange (NSE) after reporting a strong 56% year-on-year (yoy) jump in standalone net profit at Rs 31.79 crore for the first quarter ended June 30, 2014 (Q1). The drug maker had profit of Rs 20.32 crore in the same quarter last fiscal.
Net sales for the quarter at Rs 257 crore were 12% higher against net sales in the corresponding quarter in the previous year. However, this is strictly not comparable y-o-y due to commencement of sales and distribution in Russia and CIS countries by the wholly owned subsidiary during the quarter, JB Chemicals said in a statement.
Meanwhile, the company plans to invest about Rs 140 crore in the new capacity and related infrastructure in the next 12-18 months, through internal accruals.
The stock opened at Rs 184 and hit a record high of Rs 200 on NSE. The counter has seen an over three-fold jump in trading volumes with a combined about 800,000 shares changing hands in first 15 minutes of trade on NSE and BSE.
Net sales for the quarter at Rs 257 crore were 12% higher against net sales in the corresponding quarter in the previous year. However, this is strictly not comparable y-o-y due to commencement of sales and distribution in Russia and CIS countries by the wholly owned subsidiary during the quarter, JB Chemicals said in a statement.
Meanwhile, the company plans to invest about Rs 140 crore in the new capacity and related infrastructure in the next 12-18 months, through internal accruals.
The stock opened at Rs 184 and hit a record high of Rs 200 on NSE. The counter has seen an over three-fold jump in trading volumes with a combined about 800,000 shares changing hands in first 15 minutes of trade on NSE and BSE.
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