Grindwell Norton jumped 4.83% to Rs 470.05 after the company said it partially resumed operations at some of its plants, following the directives received from the authorities.
The company added that the operations at other plants, except those engaged in offering essential services, remain suspended till 3 May 2020. The announcement was made after market hours yesterday.
On a consolidated basis, the company's net profit rose 12.2% to Rs 46.28 crore on a 4.9% increase in net sales to Rs 406.68 crore in Q3 December 2019 over Q3 December 2018.
Grindwell Norton manufactures abrasive products, including bonded and coated abrasives. The Company also manufactures silicon carbide and aluminum oxide, as well as industrial ceramics. The firm also operates through a joint venture which manufactures a wide range of centralized lubrication systems (CLS).
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