Hindustan Composites zooms on robust Q4 earnings

The company reported 135% growth in net profit at Rs 18.9 crore for the quarter ended March 2016 compared with Rs 8 crore year-on-year

Shares of Hindustan Composites were up 17% at Rs 1075 after the company reported 135% growth in net profit at Rs 18.9 crore for the quarter ended March 2016 compared with Rs 8 crore in the same quarter last fiscal.

Net sales increased 68% to Rs 68.2 crore during the quarter under review from Rs 40.5 crore in the same quarter ended March 2015.

For the year ended March 31, 2016 net profit increased 52% to Rs Rs 39.1 crore compared with Rs 25.8 crore in the last fiscal. Net sales for FY16 increased 22% to Rs 183.2 crore compared with Rs 150.3 crore in the year ended March 31, 2015.

The stock opened at Rs 1055 and touched a high of Rs 1068. At 10am, over 17,000 shares were traded on both the stock exchanges.