 "Gujarat Alkalies and Chemicals hits 52-week high post Q4 results")
Gujarat Alkalies and Chemicals has surged 15% to Rs 226 on the BSE after the company reported more than doubled EBITD (earnings before interest taxes and depreciation) at Rs 133 crore for the quarter ended March 2016 (Q4FY16) against Rs 52 crore in a year ago quarter.
Net profit during the quarter, however, grew 20% at Rs 115 crore on back of 10% rise in net sales at Rs 546 crore over the previous year quarter.
The company engaged in commodity chemicals business stated that to counter the decline in price realizations, it had initiated various cost control measures, which resulted in nearly three-fold jump in profit before tax at Rs 115 crore for the quarter.
The board of directors of the company has recommended a dividend of Rs 4.50 per equity share of Rs 10 each fully paid-up (45%) for the year ended March 31, 2016.
At 10:14 AM, the stock was up 12% at Rs 220 on the BSE. A combined 816,646 shares changed hands against an average sub 100,000 shares that were traded daily in past two weeks on the BSE and NSE.
Net profit during the quarter, however, grew 20% at Rs 115 crore on back of 10% rise in net sales at Rs 546 crore over the previous year quarter.
The company engaged in commodity chemicals business stated that to counter the decline in price realizations, it had initiated various cost control measures, which resulted in nearly three-fold jump in profit before tax at Rs 115 crore for the quarter.
The board of directors of the company has recommended a dividend of Rs 4.50 per equity share of Rs 10 each fully paid-up (45%) for the year ended March 31, 2016.
At 10:14 AM, the stock was up 12% at Rs 220 on the BSE. A combined 816,646 shares changed hands against an average sub 100,000 shares that were traded daily in past two weeks on the BSE and NSE.