IG Petrochemicals was locked at 20% upper circuit at Rs 37.40 at 12:24 IST on BSE after the company reported a net profit of Rs 14.17 crore in Q4 March 2014 as against net loss of Rs 20.37 crore in Q4 March 2013.
The Q4 result was announced after market hours on Thursday, 22 May 2013.
Meanwhile, the S&P BSE Sensex was up 236.07 points or 0.97% at 24,610.47.
On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 13,000 shares in the past two weeks.
The stock price of Rs 37.40 is its 52-week high for the counter. The stock hit low of Rs 36.90 so far during the day.
IG Petrochemicals' total income from operations rose 52.07% to Rs 363.70 crore in Q4 March 2014 over Q4 March 2013.
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IG Petrochemicals' net profit rose 1.95% to Rs 3.13 crore on 24.11% growth in total income from operations to Rs 1204.29 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
There was an exceptional item of Rs 17.85 crore in FY 2014 pertaining to foreign exchange loss due to significant movement and volatility in value of Indian rupee against US dollar.
IG Petrochemicals is exclusively in the organic chemical segment.
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