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Bhansali Engineering soars after stellar Q3 performance

Capital Market 

Bhansali Engineering Polymers jumped 8.88% to Rs 172.90 after the company's consolidated net profit surged 706% to Rs 136.29 crore on a 58.14% rise in revenue from operations to Rs 411.27 crore in Q3 December 2020 over Q3 December 2019.

The company's profit before tax grew by 702% year-on-year to Rs 183.26 crore in Q3 December 2020. Current tax expense surged to Rs 46.82 crore in Q3 December 2020 compared with Rs 5.87 crore in Q3 December 2019.

In last three months, shares of Bhansali Engineering Polymers have surged 78%, outperforming the BSE Small Cap index which rose 26.9% in the same period.

Bhansali Engineering Polymers is a vertically integrated petrochemical company that manufactures ABS, which acts as a raw material for companies dealing in automobiles, home appliances, telecommunications, luggage, bus body and various other multi-faceted applications.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, January 11 2021. 09:56 IST