KRBL hits record high on robust Q1 earnings

Stocks hits a record high of Rs 96 on the BSE post robust Q1 earnin

Shares of KRBL were trading 18% higher at Rs 95 after hitting a record high of Rs Rs 96 on the BSE after the basmati-rice exporting major posted robust earnings for the June quarter.

Consolidated net profit for the quarter ended June 30, 2014 increased 47% to Rs 73 crore compared with Rs 60 crore in the same quarter last fiscal.

Total Income during the quarter under review increased 24% to Rs 860 crore from Rs 689 crore in the same quarter last fiscal.

The company exports basmati rice under various brands such as India Gate, Doon and Taj Mahal Tilla among others.

The stock opened at Rs 85 and touched a high of Rs 96 so far. Over 4.6 million shares were traded so far on both the stock exchanges.