 "Sintex Industries rallies over 15% post Q2 results")
Sintex Industries has soared 17% to Rs 85.10 on NSE after reporting a strong 47% year on year (yoy) growth in consolidated net profit at Rs 107 crore for the second quarter ended September 2014 (Q2). The company engaged in plastic and textile business had profit of Rs 73 crore in previous year quarter.
Net sales grew 25% at Rs 1,673 crore on yoy basis.
EBITDA or operating profit margin improved by around 200 basis points to 17.2% in September quarter against 15.5% in the corresponding quarter of previous fiscal.
“Q2FY15 is a reflection of strong growth and a drastic improvement in business sentiment. Utilisations are picking up across businesses, upturn in margins and topline growth is clearly visible. The initiatives on clean India campaign have thrown open new set of opportunities,” said Amit Patel, Group Managing Director of Sintex Industries.
The stock opened at Rs 72.15 and touched a record high of Rs 85.30 on NSE. A combined 27.49 million shares changed hands on the counter so far on NSE and BSE.
Net sales grew 25% at Rs 1,673 crore on yoy basis.
EBITDA or operating profit margin improved by around 200 basis points to 17.2% in September quarter against 15.5% in the corresponding quarter of previous fiscal.
“Q2FY15 is a reflection of strong growth and a drastic improvement in business sentiment. Utilisations are picking up across businesses, upturn in margins and topline growth is clearly visible. The initiatives on clean India campaign have thrown open new set of opportunities,” said Amit Patel, Group Managing Director of Sintex Industries.
The stock opened at Rs 72.15 and touched a record high of Rs 85.30 on NSE. A combined 27.49 million shares changed hands on the counter so far on NSE and BSE.