 "Gujarat Alkalies surges as Q1 profit nearly double")
Gujarat Alkalies and Chemicals has surged 17% to Rs 284 on the BSE in intra-day trade after net profit for the quarter ended June 30, 2016 (Q1FY17) nearly doubled to Rs 86 crore on the back of higher sales turnover. The company engaged in commodity chemicals business had registered a profit of Rs 44 crore in the year-ago quarter.
Sales turnover increased by 9% at Rs 515 crore in June quarter against Rs 473 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin expanded to 25.6% from 16.2% in the corresponding quarter of previous year.
The company said it plans to install additional wind power capacity of 14.70 megawatt (MW) resulting into total capacity of 171.45 MW and 15 MW solar power by the end of current financial year.
At 10:51 AM, the stock was up 11% to Rs 269 on the BSE on back of two-fold jump in trading volumes. A combined 1.27 million shares changed hands on the counter on the BSE and NSE so far.
Sales turnover increased by 9% at Rs 515 crore in June quarter against Rs 473 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin expanded to 25.6% from 16.2% in the corresponding quarter of previous year.
The company said it plans to install additional wind power capacity of 14.70 megawatt (MW) resulting into total capacity of 171.45 MW and 15 MW solar power by the end of current financial year.
At 10:51 AM, the stock was up 11% to Rs 269 on the BSE on back of two-fold jump in trading volumes. A combined 1.27 million shares changed hands on the counter on the BSE and NSE so far.
