Pitti Laminations surges on robust Q4 earnings

Net profit for March quarter more than doubled to Rs 4.60 crore on the back of strong sales growth.

Shares of Pitti Laminations surged 8% to Rs 70 after the company reported robust March quarter earnings after net profit more than doubled to Rs 4.60 crore on the back of strong sales growth.

The company had reported a net profit of Rs 1.96 crore in the same quarter last fiscal.

Net sales for the March quarter increased nearly 40% to Rs 104 crore compared with Rs 66 crore in the corresponding quarter last fiscal.

Meanwhile, the board has recommended a final dividend of Rs. 0.625 per share (12.5% of the face value of equity share of Rs. 5/- each).

The stock opened at Rs 73 and touched a high of Rs 74. At 9:25AM, over 38,000 shares were traded on both the stock exchanges.