 "Jay Shree Tea soars on strong Q3 results")
Jay Shree Tea & Industries has soared 16% to Rs 88 on the BSE after the company reported over 10-fold year-on-year (yoy) jump in net profit at Rs 14.14 crore for the third quarter ended December 31, 2015 (Q3FY16) on back of strong performance by sugar segment. The company had profit of Rs 1.23 crore in the same quarter year ago.
Net sales of the company during quarter under review increased 6% yoy at Rs 237 crore, while total expenditure remain constant at Rs 218 crore over the previous year quarter.
The company’s sugar division had reported Rs 4.67 crore profit before tax & interest against loss of Rs 5.81 crore in year ago quarter.
The stock hit an intra-day high of Rs 91.60 on the BSE post Q3 results and seen huge trading volumes. Till 03.15 PM, a combined 1.12 million shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
Net sales of the company during quarter under review increased 6% yoy at Rs 237 crore, while total expenditure remain constant at Rs 218 crore over the previous year quarter.
The company’s sugar division had reported Rs 4.67 crore profit before tax & interest against loss of Rs 5.81 crore in year ago quarter.
The stock hit an intra-day high of Rs 91.60 on the BSE post Q3 results and seen huge trading volumes. Till 03.15 PM, a combined 1.12 million shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%