Nahar Spinning soars 20% on strong Q1 results
The textile company reported a net profit of Rs 26.38 crore in the June quarter against a loss of Rs 11.47 crore in the year-ago quarter.
 "Nahar Spinning soars 20% on strong Q1 results")
Nahar Spinning Mills is locked at the upper circuit of 20% at Rs 153 on the BSE after the textile company reported a net profit of Rs 26.38 crore for the first quarter ended June 30, 2015 (Q1), due to lower raw material costs. The company had posted a net loss of Rs 11.47 crore in the year-ago quarter.
Net sales of the company in the quarter under review, however, dropped by 2.8% at Rs 512 crore compared to Rs 527 crore in the corresponding quarter of previous year. The raw materials cost declined by 18.6% to Rs 280 crore on a year-on-year basis.
Till 03:20 PM, a combined 1.34 million shares changed hands and there were pending buy orders for 127,562 shares on the BSE and NSE.
Net sales of the company in the quarter under review, however, dropped by 2.8% at Rs 512 crore compared to Rs 527 crore in the corresponding quarter of previous year. The raw materials cost declined by 18.6% to Rs 280 crore on a year-on-year basis.
Till 03:20 PM, a combined 1.34 million shares changed hands and there were pending buy orders for 127,562 shares on the BSE and NSE.