S P Apparels scales record high after blockbuster Q1 result

S P Apparels was locked in 5% upper circuit at Rs 323.10 at 13:45 IST on BSE after consoldiated net profit jumped 143.77% to Rs 16.43 crore on 32.02% rise in total income to Rs 164.41 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 24 August 2016.

Meanwhile, the S&P BSE Sensex was down 47.15 points or 0.17% at 28,012.79

On BSE, so far 8,990 shares were traded in the counter. The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 323.10 so far in the day, also its record high. The stock had hit a record low of Rs 276 on 17 August 2016.

The small-cap company has equity capital of Rs 25.17 crore. Face value per share is Rs 10.

S P Apparels' consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 64.5% to Rs 34.21 crore in Q1 June 2016 over Q1 June 2015.

Shares of S P Apparels had debuted at Rs 305 on BSE, a premium of 13.81% over the initial public offer (IPO) price of Rs 268 on 12 August 2016. The stock settled with a premium of 10.07% at Rs 295 on that day.

S P Apparels is a leading manufacturer and exporter of knitted garments for infants and children.

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