Manali Petrochemical zooms 20% on robust Q4 results

The stock locked in upper circuit of 20% at Rs 41.55 on the BSE after the company reported a record quarterly net profit of Rs 266 million in March quarter

Manali Petrochemical is locked in upper circuit of 20% at Rs 41.55 on the BSE with only buyers were seen on the counter in otherwise subdued market after the company reported a record quarterly net profit in March quarter (Q4FY18).

The petrochemicals company posted four-fold jump in its standalone net profit at Rs 266 million in Q4FY18, on back of strong operational performance. The company had profit of Rs 67 million in the corresponding quarter of previous fiscal.

Revenue from operations during the quarter under review grew 12% at Rs 1,899 million, while total expenditure declined 7% at