SRF gains after strong Q4 result

SRF advanced 5.52% to Rs 2,601.10 at 15:21 IST on BSE after consolidated net profit rose 54.06% to Rs 190.89 crore on 27.98% increase in net sales to Rs 2034.81 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours yesterday, 13 May 2019.

Meanwhile, the S&P BSE Sensex was up 274 points, or 0.74% to 37,364.82

On the BSE, 1.03 lakh shares were traded in the counter so far compared with average daily volumes of 11,000 shares in the past two weeks. The stock had hit a high of Rs 2,625 and a low of Rs 2,333.90 so far during the day.

Commenting on the results, Managing Director, SRF, Ashish Bharat Ram said the demand on the specialty chemicals side seems to be coming back on track. The technical textiles business was hit with some inventory losses and fall in demand.

SRF is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company's diversified business portfolio covers technical textiles, fluorochemicals, specialty chemicals, packaging films and engineering plastics.

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