 "Kitex Garments hits 52-week high as Q4 net nearly doubles")
Kitex Garments has surged 14% to Rs 620 on the National Stock Exchange (NSE) after nearly doubling its net profit at Rs 41.63 crore for the fourth quarter ended March 2015 (Q4), due to lower raw material costs. The garments maker had reported a profit of Rs 21.08 crore in the year-ago quarter.
Net sales of the company grew 22% year-on-year at Rs 148 crore against Rs 121 crore in the corresponding quarter of the previous fiscal. The raw material costs declined by 29% at Rs 49 crore over the previous corresponding quarter.
EBITDA (earnings before interest tax and depreciation) margin expanded to 38.04% from 27.32% during the period under review.
The stock opened at Rs 568 and touched a 520 week high of Rs 635 on the NSE. The trading volumes on the counter jumped over five-fold, with a combined 708,641 shares changing hands on the NSE and BSE till 1213 hours.
Net sales of the company grew 22% year-on-year at Rs 148 crore against Rs 121 crore in the corresponding quarter of the previous fiscal. The raw material costs declined by 29% at Rs 49 crore over the previous corresponding quarter.
EBITDA (earnings before interest tax and depreciation) margin expanded to 38.04% from 27.32% during the period under review.
The stock opened at Rs 568 and touched a 520 week high of Rs 635 on the NSE. The trading volumes on the counter jumped over five-fold, with a combined 708,641 shares changing hands on the NSE and BSE till 1213 hours.