 "Sagar Cements surges after turnaround in Q4")
Shares of Sagar Cements have surged 16% to Rs 408 on the BSE after the company reported a net profit of Rs 21.70 crore for the fourth quarter ended March 2015 (Q4), on the back of strong realisation. The company had posted a loss of Rs 11.36 crore in the same quarter last year.
Net sales during the quarter rose 30% to Rs 191 crore as against Rs 147 crore in the corresponding quarter of the previous year.
EBITDA or operating profit stood at Rs 41.58 crore compared to loss of Rs 4.62 crore in Q4 FY14. EBITDA margins improved to 21.80%, Sagar Cements said in a statement.
“Improved pricing environment helped maintain revenue momentum, our strategic cost controlling initiatives in conjunction with lower coal and energy prices enabled us in delivering higher operating profitability,” said Mr. Sreekanth Reddy, executive director of Sagar Cements.
The stock touched a record high of Rs 420 on the BSE and has seen a combined 39,948 shares changing hands on the counter till 1357 hours on the BSE and NSE.
Net sales during the quarter rose 30% to Rs 191 crore as against Rs 147 crore in the corresponding quarter of the previous year.
EBITDA or operating profit stood at Rs 41.58 crore compared to loss of Rs 4.62 crore in Q4 FY14. EBITDA margins improved to 21.80%, Sagar Cements said in a statement.
“Improved pricing environment helped maintain revenue momentum, our strategic cost controlling initiatives in conjunction with lower coal and energy prices enabled us in delivering higher operating profitability,” said Mr. Sreekanth Reddy, executive director of Sagar Cements.
The stock touched a record high of Rs 420 on the BSE and has seen a combined 39,948 shares changing hands on the counter till 1357 hours on the BSE and NSE.