Rallis India has surged 6% to Rs 176 on the BSE after the agrochemicals company reported a 71% year-on-year (yoy) jump in net profit at Rs 19.3 crore for the quarter ended March 2014. The Tata group firm had posted a net profit of Rs 11.26 crore in the same period last year.
Net sales grew 16 % to Rs 324 crore in the quarter under review from Rs 279 crore in the year-ago period, Rallis India said in a statement.
The company said performance during the quarter was driven by both, an increase in volumes as well as value improvements due to price adjustments necessitated by the cost increases through the year.
The margin improvement also reflected the gains from operating efficiencies, better cash management, tighter working capital control and lower interest costs, it added.
The stock opened at Rs 173 and touched a high of Rs 179 on the BSE. A combined 348,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
Net sales grew 16 % to Rs 324 crore in the quarter under review from Rs 279 crore in the year-ago period, Rallis India said in a statement.
The company said performance during the quarter was driven by both, an increase in volumes as well as value improvements due to price adjustments necessitated by the cost increases through the year.
The margin improvement also reflected the gains from operating efficiencies, better cash management, tighter working capital control and lower interest costs, it added.
The stock opened at Rs 173 and touched a high of Rs 179 on the BSE. A combined 348,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
