United Phosphorus has rallied 7% to Rs 141, extending its previous day’s over 2% gain, after reporting a 38% year-on-year (yoy) growth in consolidated net profit at Rs 278 crore for the quarter ended March 2013 on back of strong sales. The agrochemicals company had achieved a net profit of Rs 202 crore in the same quarter in the last year.
The company’s total income from operations grew 23% yoy at Rs 2,821 crore driven by both exports and domestic business which grew by 25.0% and 33.0% respectively. The operating profit margin (OPM) came in at 17.6% almost same as 17.9%.
The board has recommended 125% or Rs 2.50 per share dividend on the equity shares of Rs 2 each for the financial year 2013.
Meanwhile, analyst at Angel Broking recommended BUY on the stock with a price target of Rs 192.
The stock opened at Rs 133 and hit a high of Rs 142 on BSE. A combined 2.66 million have changed hands on the counter till 0954 hours against an average around 1.51 million shares that were traded daily in past two weeks on NSE and BSE.
The company’s total income from operations grew 23% yoy at Rs 2,821 crore driven by both exports and domestic business which grew by 25.0% and 33.0% respectively. The operating profit margin (OPM) came in at 17.6% almost same as 17.9%.
The board has recommended 125% or Rs 2.50 per share dividend on the equity shares of Rs 2 each for the financial year 2013.
Meanwhile, analyst at Angel Broking recommended BUY on the stock with a price target of Rs 192.
The stock opened at Rs 133 and hit a high of Rs 142 on BSE. A combined 2.66 million have changed hands on the counter till 0954 hours against an average around 1.51 million shares that were traded daily in past two weeks on NSE and BSE.
