 "Igarashi Motors rallies on strong Q4 results")
Igarashi Motors India has rallied 9% to Rs 535 on the NSE after reporting a strong 71% year on year (YoY) jump in net profit at Rs 17.04 crore for the fourth quarter ended March 31, 2015 (Q4), on the back of strong operational performance and lower interest cost.
The company, which is engaged in auto parts & equipment business, had posted a profit of Rs 9.94 crore in the same quarter last year.
Net sales during the quarter grew 11% to Rs 102 crore on a Y-o-Y basis. Total expenditure declined by 2.3% to Rs 802 crore mainly on account of lower depreciation charges. Interest burden also reduced to Rs 75 lakh against Rs 1.95 crore in the previous year's corresponding quarter.
EBITDA or operating profit margins improved substantially to 21.16% from 15.49%.
The stock touched a record high of Rs 537 on the NSE and has seen a combined 791,018 shares changing hands on the counter on the NSE and BSE till 1035 hours.
The company, which is engaged in auto parts & equipment business, had posted a profit of Rs 9.94 crore in the same quarter last year.
Net sales during the quarter grew 11% to Rs 102 crore on a Y-o-Y basis. Total expenditure declined by 2.3% to Rs 802 crore mainly on account of lower depreciation charges. Interest burden also reduced to Rs 75 lakh against Rs 1.95 crore in the previous year's corresponding quarter.
EBITDA or operating profit margins improved substantially to 21.16% from 15.49%.
The stock touched a record high of Rs 537 on the NSE and has seen a combined 791,018 shares changing hands on the counter on the NSE and BSE till 1035 hours.