Shares of Pitti Laminations surged 8% to Rs 70 after the company reported robust March quarter earnings after net profit more than doubled to Rs 4.60 crore on the back of strong sales growth.
The company had reported a net profit of Rs 1.96 crore in the same quarter last fiscal.
Net sales for the March quarter increased nearly 40% to Rs 104 crore compared with Rs 66 crore in the corresponding quarter last fiscal.
Meanwhile, the board has recommended a final dividend of Rs. 0.625 per share (12.5% of the face value of equity share of Rs. 5/- each).
The stock opened at Rs 73 and touched a high of Rs 74. At 9:25AM, over 38,000 shares were traded on both the stock exchanges.
