Man Industries gains on robust Q4 earnings

Net profit for March 2015 quarter zoomed 1,559% to Rs 44.79 crore

Shares of Man Industires were up over 3% at Rs 69 after the company posted over 1559% jump in net profit at Rs 44.79 crore for the quarter ended March 2015 compared to Rs 2.70 crore in the same quarter last fiscal on the back of strong sales growth.

Net sales for the March 2015 quarter nearly doubled to Rs 634 crore compared with Rs 346 crore in the same quarter last year.

Further, the company said its board has recommended a dividend of Rs 1.50 per equity share.

The stock touched a high of Rs 77 and a low of Rs 68. At 1:45PM, over 4.7 million shares were traded on the exchanges.