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SRF has zoomed 17% to Rs 685 on National Stock Exchange (NSE) after reporting a robust 127% year-on-year (yoy) jump in net profit at Rs 99 crore for the quarter ended June 30, 2014 (Q1), on back of strong operational performance. The textiles firm had profit of Rs 44 crore in a year ago quarter.
The net profit jumped on the back of robust sales in most of its businesses and ramp up of production from newly commissioned units, SRF said in a statement.
Net sales of the company during the first quarter of 2014-15 increased by 14% to Rs 936 crore as against Rs 819 crore recorded during the same quarter last fiscal.
EBIDTA or operating profit at Rs 201 crore, a growth of 47% compared to the corresponding quarter of the previous year, it added.
Meanwhile, the board approved a capex proposal for setting up of a new specialty chemical plant at its chemical complex at Dahej in Gujarat at a total investment of Rs 113 crore.
The board also approved an interim dividend at the rate of 50% amounting to Rs 5 per share.
The stock opened at Rs 658 and touched a record high of Rs 705 on NSE. A combined 510,000 shares changed hands on the counter in early morning deals on NSE and BSE.
The net profit jumped on the back of robust sales in most of its businesses and ramp up of production from newly commissioned units, SRF said in a statement.
Net sales of the company during the first quarter of 2014-15 increased by 14% to Rs 936 crore as against Rs 819 crore recorded during the same quarter last fiscal.
EBIDTA or operating profit at Rs 201 crore, a growth of 47% compared to the corresponding quarter of the previous year, it added.
Meanwhile, the board approved a capex proposal for setting up of a new specialty chemical plant at its chemical complex at Dahej in Gujarat at a total investment of Rs 113 crore.
The board also approved an interim dividend at the rate of 50% amounting to Rs 5 per share.
The stock opened at Rs 658 and touched a record high of Rs 705 on NSE. A combined 510,000 shares changed hands on the counter in early morning deals on NSE and BSE.
