Omkar Speciality Chemicals gains on robust Q1 profit

Net profit for Apr-Jun 2015 jumped 53% to Rs 4.6 crore compared with Rs 3 crore in Apr-Jun 2014

Shares of Omkar Speciality Chemicals surged 11% to Rs 181 after the speciality chemicals manufacturer reported 53% growth in net profit at Rs 4.6 crore for the quarter ended June 30, 2015 compared with Rs 3 crore in the same quarter last fiscal on the back of lower raw material costs.

Raw material costs for the quarter declined nearly 50% to Rs 13.8 crore compared with Rs 28 crore in the quarter ended June 30, 2014.

Net sales for the quarter ended June 30, 2015 jumped 76% to Rs 65 crore compared with Rs 37 crore in the quarter ended June 30, 2014.
 

The stock opened at Rs 187 and touched a high of Rs 195. At 12:40PM, over 1 million shares were traded on both the stock exchanges.