Mangalam Cement stock zooms 20% on robust June quarter results

The company reported a net profit of Rs 33 crore for June quarter against net loss of Rs 15 crore registered in the year- ago quarter.

Shares of Mangalam Cement were locked in the upper circuit limit of 20 per cent at Rs 263 on the BSE on Tuesday after the company reported a record quarterly net profit of Rs 33 crore for June quarter (Q1FY20). The company had posted a net loss of Rs 15 crore in the year-ago quarter.

Operational revenue during the quarter jumped 31 per cent to Rs 333 crore against Rs 255 crore registered in the corresponding quarter of the previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved substantially to 20.4 per cent in Q1FY20 from