 "CCL Products surges on strong Q4 results")
CCL Products has surged 15% to Rs 223 on the BSE in early morning trade after the company reported a strong 70% year on year (YoY) jump in its consolidated net profit at Rs 36.66 crore for the quarter ended March 31, 2016 (Q4FY16), on the back of higher net sales and lower raw material cost.
The company engaged in coffee and coffee related business had registered a profit of Rs 21.53 crore in the year ago quarter.
The company’s net sales stood at Rs 264 crore, up 23% YoY. The operating profit margin for the quarter at 23.02% expanded by 395 basis points (bps) YoY and 159 bps on sequential basis.
At 09:36 am, the stock was up 13% at Rs 220 on the BSE on back of multi-folds trading volumes. A combined 891,275 shares changed hands so far against an average sub 25,000 shares that were traded daily in past two weeks on the BSE and NSE.
The company engaged in coffee and coffee related business had registered a profit of Rs 21.53 crore in the year ago quarter.
The company’s net sales stood at Rs 264 crore, up 23% YoY. The operating profit margin for the quarter at 23.02% expanded by 395 basis points (bps) YoY and 159 bps on sequential basis.
At 09:36 am, the stock was up 13% at Rs 220 on the BSE on back of multi-folds trading volumes. A combined 891,275 shares changed hands so far against an average sub 25,000 shares that were traded daily in past two weeks on the BSE and NSE.