Rain Industries surges 17% on healthy operational performance in March qtr

The company's Ebitda margin expanded 780 basis points to 19.3 per cent from 11.5 per cent in the year-ago quarter.

Shares of Rain Industries soared 17 per cent to Rs 81.20 on the BSE on Friday after the company’s profit before depreciation, interest, taxes and exceptional item (Ebitda) jumped 52 per cent year on year (YoY) to Rs 558 crore in the March quarter (Q1CY20).

Ebitda margin expanded 780 basis points to 19.3 per cent from 11.5 per cent in the year-ago quarter. The healthy performance during the quarter was due to increased margins resulting from working through of high-cost raw material compared to Q1CY19 and appreciation of USD against the Indian Rupee.

The company, which is engaged