Thirumalai Chemicals has soared 20% to Rs 102.30, extending its past two days rally after reporting a strong set of numbers for the quarter ended June 2012. The trading volumes on the counter surge over five times with as many as a combined 5,95,885 shares have changed hands on the counter in morning trades.
The stock of major producer of petrochemicals and specialty chemicals has rallied 52% in past three trading days on the Bombay Stock Exchange.
Thirumalai Chemicals reported over ten-fold jump in net profit at Rs 16.79 crore in Q1 of current fiscal, on back of strong revenues growth. The company had a net profit of Rs 1.55 crore in the corresponding quarter of previous fiscal.
Total revenues grew 111% to Rs 302 crore on year-on-year basis, while EBIDTA (earnings before interest, taxes, depreciation and amortization) jumped by 226% to Rs 44.28 crore as compared to Rs 13.59 crore.
