Finolex Industries surges 16% on robust Q3 results, 1:5 stock split

The company said the rationale behind the stock split is to improve the liquidity of the company's shares on the stock market and also to make the same available to small investors

Shares of Finolex Industries surged 16 per cent to Rs 689, also its fresh 52-week high, on the BSE on Tuesday after reporting more-than-doubled net profit at Rs 256 crore in the December quarter (Q3FY21), on back of strong revenue growth. The plastic products company had posted profit of Rs 93 crore in the year-ago quarter.

Total income from operations increased 52.5 per cent year on year (YoY) at Rs 1,067 crore, against Rs 699 crore in Q3FY20. Ebitda (earnings before interest, taxes, depreciation, and amortisation) jumped 150 per cent YoY at Rs 347 crore, while margins improved to