Navin Fluorine zooms on robust Q4 earnings

Shares of Navin Fluorine International zoomed nearly 13% at Rs 1971 on the Bombay Stock Exchange after the company reported robust earnings for the fourth quarter ended March 31, 2016.

Net profit on a standalone basis for the quarter ended March 2016 increased 90% to Rs 31.5 crore compared with Rs 16.6 crore in the same quarter last fiscal. Net sales for the quarter rose 30% to Rs 189.4 crore compared with Rs 145.6 crore in the same quarter last fiscal.

Further, consolidated net profit for the year ended March 31, 2016 increased 53% to Rs 83.50 crore compared with Rs 54.60 crore for the year ended March 31, 2015.

Net sales for FY16 were higher by 15% at Rs 678 crore compared with Rs 590 crore in the previous fiscal.

The stock opened at Rs 1987 and touched a high of Rs 2,050. At 10:10am, over 93,000 shares were traded on both the stock exchanges.