Shalimar Paints soars on strong Q3 earnings
Q3 net profit at Rs 4.69 crore against Rs 2.78 crore in Q2 quarter.
Shalimar Paints has soared 17% to Rs 131 after reporting 24% year-on-year (yoy) jump in net profit at Rs 4.69 crore in December 2012 (Q3) quarter against Rs 3.77 crore in previous year quarter. The paint maker had a profit of Rs 2.78 crore in September 2012 quarter.
“Total income from operations of the company increased by 14% yoy at Rs 144 crore, while operating profit grew 16% to Rs 11.74 crore during the recently concluded quarter,” Shalimar Paints said in a statement.
The stock opened at Rs 118 and touched high of Rs 133 on the NSE. A combined 292,000 shares have changed hands on the counter so far on both the exchanges.