Goa Carbon hits 52-week high on healthy Q4 results

The stock surged 16% to Rs 153 on BSE in early morning trade on back of heavy volumes.

Shares of Goa Carbon  surged 16% to Rs 153, also its 52-week high on BSE, after the company reported a standalone net profit of Rs 5.08 crore for the fourth quarter ended March 2017 (Q4FY17), due to exchange gain of Rs 6.71 crore. It had profit of Rs 41 lakh in the same quarter last fiscal.

Total income from operations of the company increased by 13% at Rs 76.37 crore against Rs 67.50 crore in the corresponding quarter of previous fiscal.

On yearly basis, Goa Carbon reported a consolidated net profit of Rs 9.11 crore in FY17 against loss of Rs 3.39 crore.

The board of directors of the company have recommended final dividend of Rs 3 per share, in addition to the interim dividend of Rs 1.50 per share declared on January 13, 2017.

At 09:42 am; the stock was up 14% at Rs 150, as compared to 0.33% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 2.92 million shares changed hands on BSE and NSE so far.