 "Tea Garden")
Jay Shree Tea & Industries has soared 16% to Rs 88 on the BSE after the company reported over 10-fold year-on-year (yoy) jump in net profit at Rs 14.14 crore for the third quarter ended December 31, 2015 (Q3FY16) on back of strong performance by sugar segment. The company had profit of Rs 1.23 crore in the same quarter year ago.
Net sales of the company during quarter under review increased 6% yoy at Rs 237 crore, while total expenditure remain constant at Rs 218 crore over the previous year quarter.
The company’s sugar division had reported Rs 4.67 crore profit before tax & interest against loss of Rs 5.81 crore in year ago quarter.
The stock hit an intra-day high of Rs 91.60 on the BSE post Q3 results and seen huge trading volumes. Till 03.15 PM, a combined 1.12 million shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
Net sales of the company during quarter under review increased 6% yoy at Rs 237 crore, while total expenditure remain constant at Rs 218 crore over the previous year quarter.
The company’s sugar division had reported Rs 4.67 crore profit before tax & interest against loss of Rs 5.81 crore in year ago quarter.
The stock hit an intra-day high of Rs 91.60 on the BSE post Q3 results and seen huge trading volumes. Till 03.15 PM, a combined 1.12 million shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
