OCL India has rallied 8% to Rs 123 on reporting about three-fold jump in net profit at Rs 65.89 crore for the quarter ended June 30, 2012, on back of higher realisation. Net sales grew 33% at Rs 477 crore on year-on-year (yoy) basis.
The cement and cement products maker has surpassed its entire previous fiscal net profit of Rs 31.81 crore, during first three months of current financial year. The company had reported a net profit of Rs 24.77 crore in previous year quarter
Operating profit increased by 87% at Rs 150 crore, while the margins improved to 31.4% from 22.3% on y-o-y basis.
The stock opened at Rs 115 and hit a 52-week high of Rs 128 on the NSE. A combined 170,793 shares have already changed hands on the counter in morning deals, against an average sub 50,000 shares that were traded daily in past ten trading days.