Balrampur Chini extends gain on strong Q3 result; stock hits 52-week high

The stock hit a 52-week high of Rs 124, up 3%, gaining 22% in the past two weeks after Q3 net profit almost doubled to Rs 120 crore.

Shares of Balrampur Chini Mills rose 3 per cent to hit a 52-week high of Rs 124 apiece, gaining 22 per cent in the past two weeks on the BSE, after it reported strong earnings for the quarter ended December 2018 (Q3FY19).

The company posted 96 per cent year-on-year (YoY) growth in net profit at Rs 120 crore in Q3FY19, on back of healthy performance by distillery and cogeneration segment. It had reported a profit of Rs 61.42 crore in the same quarter last year. Operational revenue however, declined 6 per cent at Rs 941 crore on YoY basis.

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