Pratibha Ind zooms on multi-fold rise in Q1 profit

Consolidated net profit for the June quarter zoomed to Rs 11 crore compared with Rs 16 lakh in the same quarter last year

Shares of Pratibha Industries were up 10% at Rs 55 after the company in a release after market hours on Thursday reported robust earnings on a consolidated basis during the first quarter ended June 30, 2014.

Consolidated net profit for the first quarter zoomed to Rs 11 crore compared to just Rs 16 lakh in the same quarter last fiscal.

Net sales during the quarter under review rose 42% to Rs 500 crore compared with Rs 353 crore in the same quarter ended June 30, 2013.

The stock opened at Rs 55 and touched an intra-day high of Rs 57 so far on the Bombay Stock Exchange. Over 1.46 million shares were traded on both the NSE and BSE so far.