Thirumalai Chemicals zooms 20% on strong Q1 results

The company reported a consolidated net profit of Rs 19 crore in June quarter against loss of Rs 71 lakh in a year ago quarter.

Shares of Thirumalai Chemicals are locked at the upper circuit of 20% at Rs 240, also their 52-week highs on the BSE, after the company reported a consolidated net profit of Rs 19.08 crore for the quarter ended June 30, 2015 (Q1), due to lower raw material costs.

The company engaged in chemical products and its intermediates had posted a loss of Rs 71 lakh in the same quarter last year.

The consolidated net sales in the quarter under review however declined by 13.3% at Rs 266 crore against Rs 307 crore in the corresponding quarter of previous fiscal. Total expenditure declined by 22.7% at Rs 232 crore on year-on-year basis.

Till 02:08 PM, a combined 1.1 million shares changed hands and there were pending buy orders for 126,483 shares on the BSE and NSE.