 "OCL India hits 52-week high on strong Q4 results")
OCL India has rallied 15% to Rs 603, its 52-week high on the BSE, after the company reported a more than doubled net profit at Rs 134 crore for the fourth quarter ended March 31, 2016 (Q4FY16), due to higher realization and other income.
The company engaged in cement & cement products business had profit of Rs 36 crore in the same quarter year ago.
Income from operations rose 25% to Rs 821 crore in Q4FY16 from Rs 661 crore in the corresponding quarter of previous fiscal. It reported other income of Rs 50 crore as compared to Rs 7 crore in previous year quarter.
Ebitda (earnings before interest, taxes, depreciation and amortization) margins improved to 24.6% from 16.35%.
The board of directors declared an interim dividend of Rs 4 (200%) per paid up equity share of Rs 2 each for the financial year ended March 31, 2016.
At 10:31 am, the stock is up 13% at Rs 593 on the BSE as compared to 0.95% decline in S&P BSE Sensex. A combined 132,402 shares changed hands on the counter of BSE and NSE.
The company engaged in cement & cement products business had profit of Rs 36 crore in the same quarter year ago.
Income from operations rose 25% to Rs 821 crore in Q4FY16 from Rs 661 crore in the corresponding quarter of previous fiscal. It reported other income of Rs 50 crore as compared to Rs 7 crore in previous year quarter.
Ebitda (earnings before interest, taxes, depreciation and amortization) margins improved to 24.6% from 16.35%.
The board of directors declared an interim dividend of Rs 4 (200%) per paid up equity share of Rs 2 each for the financial year ended March 31, 2016.
At 10:31 am, the stock is up 13% at Rs 593 on the BSE as compared to 0.95% decline in S&P BSE Sensex. A combined 132,402 shares changed hands on the counter of BSE and NSE.