SRF rallies 7%, hits record high on 57% YoY jump in Q2 net profit

EBITDA margins expanded 840 basis points to 27.7 per cent, driven by technical textiles and packaging businesses.

Shares of SRF rallied 7 per cent to hit a record high of Rs 4,768 on the BSE on Thursday after the company reported a strong 57 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 316 crore in September quarter (Q2FY21), on the back of healthy operational performance. The stock surpassed its previous high of Rs 4,555, touched on October 30, 2020.

The company’s consolidated revenue grew 21 per cent from Rs 1,738 crore to Rs 2,101 crore in Q2FY21. EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins expanded 840 basis points to 27.7