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Kesoram Inds gains after turnaround Q4 outcome

Kesoram Industries rose 1.62% to Rs 66.05 at 11:32 IST on BSE after the company reported net profit of Rs 20.75 crore in Q4 March 2019 as compared with net loss of Rs 158.17 crore in Q4 March 2018.

The result was announced after market hours yesterday, 15 May 2019.

Meanwhile, the S&P BSE Sensex was up 8.61 points, or 0.02% to 37,123.49

On the BSE, 27,000 shares were traded in the counter so far compared with average daily volumes of 15,000 shares in the past two weeks. The stock had hit a high of Rs 68.10 and a low of Rs 65.90 so far during the day.

Kesoram Industries' total income rose 5.05% to Rs 1069.30 crore in Q4 March 2019 over Q4 March 2018.

Kesoram Industries said that continued focus on realisations and imparting efficiencies on all parameter helped the cement business show a much improved performance. The business is consolidating itself in the blended cement category. Tyre business augmented its thrust on products, realisation and market positioning during the year. It will continue as an influential player in the tyre industry. Both the businesses have shown improved efficiency.

Kesoram Industries is engaged in cement and automobile tyre business.

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