Polyplex Corp surges on strong June qtr results

Polyplex Corporation has surged 6% to Rs 191 after reporting 58% year-on-year growth in consolidated net profit at Rs 62.26 crore for the first quarter ended June 30, 2011. The company had reported a net profit of Rs 39.31 crore in the corresponding quarter of previous fiscal. Net sales too, grew 56%, at Rs 666 crore on y-o-y.

The stock opened at Rs 173 and hit a high of Rs 198 on the NSE. The trading volumes on the counter more than doubled with 249,225 shares have changed hands till 1227 hours.