Mangalore Chemicals gains 5% on robust Q1 results
Mangalore Chemicals and Fertilisers has rallied over 5% to Rs 33 on the back of robust Q1 numbers announced post market hours on Tuesday.
The Q1 net profit grew 136.92% to Rs 29.71 crore compared to Rs 12.54 crore during the same quarter of the previous fiscal. Sales came in at Rs 583.45 crore, a y-o-y increase of 19%.
The board of directors of the company has also approved dividend of 12% for the last financial year, the company said in a filing to the Bombay Stock Exchange (BSE).
The stock opened at Rs 31 and touched a high of Rs 33. A total of 3,81,000 shares have changed hands compared to a two-week average of 1,92,000.