Fag Bearings gains on robust profit in June quarter

Profit for the June quarter was up 20% at Rs 49 crore compared to same quarter last fiscal

Shares of Fag Bearings India were up nearly 3% at Rs 4,310 on the Bombay Stock Exchange after the company reported 20% rise in net profit at Rs 429 crore compared with Rs 388 crore in the same quarter last fiscal.

Net sales for the quarter ended June 30,2015 increased nearly 11% to Rs 429 crore compared to Rs 388 crore in the same quarter last year.

The stock opened at Rs 4,298 and touched a high of Rs 4,395. At 12:05PM, over 2,200 shares were traded on both the stock exchanges.