Mafatlal Industries spurts after declaring Q4 result

Mafatlal Industries jumped 9.16% to Rs 330 at 15:02 IST after the company's adjusted net profit rose 14.7% to Rs 6.24 crore on 59.5% rise in net sales to Rs 398.95 crore in Q4 March 2016 over Q4 March 2015.

The company announced the result after market hours yesterday, 2 May 2016.

Meanwhile, the BSE Sensex was down 189.33 points, or 0.74%, to 25,247.64

On BSE, so far 30,000 shares were traded in the counter compared with average volume of 2,773 shares over the past one quarter. The stock hit a high of Rs 334 and a low of Rs 305 so far during the day. The stock had hit a 52-week high of Rs 380.10 on 4 January 2016. The stock had hit a 52-week low of Rs 154.50 on 14 May 2015. The stock had outperformed the market over the past one month till 2 May 2016, gaining 11.55% compared with 0.66% gains in the Sensex. The scrip also outperformed the market in past one quarter, rising 9.69% as against Sensex's 3.66% gains.

The company has equity capital of Rs 13.91 crore. Face value per share is Rs 10.

Mafatlal Industries' net profit fell 55.1% to Rs 6.24 crore in Q4 March 2016 over Q4 March 2015. The company's Q4 March 2015 net profit was boosted by an extra-ordinary income of Rs 8.98 crore comprising of profit on sale of fixed assets and investment properties. Other income dropped 77.2% to Rs 4.05 crore in Q4 March 2016 over Q4 March 2015.

Mafatlal Industries is engaged in manufacture of plain and pattern woven, yarn and piece dyed, and printed fabrics for apparel, bedding and furnishing, from cotton and blends with polyester.

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