SRF jumped 9.3% to Rs 734 at 09:21 IST on BSE after net profit surged 60.9% to Rs 76.85 crore on 9.2% rise in net sales to Rs 916.87 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced after market hours yesterday, 28 October 2014.
Meanwhile, the S&P BSE Sensex was up 138.20 points or 0.51% at 27,019.02
On BSE, so far 31,697 shares were traded in the counter as against average daily volume of 39,497 shares in the past one quarter.
The stock hit a high of Rs 749 and a low of Rs 721.25 so far during the day. The stock had hit a record high of Rs 775 on 1 October 2014. The stock had hit a 52-week low of Rs 160 on 31 October 2013.
The mid-cap company has equity capital of Rs 57.42 crore. Face value per share is Rs 10.
SRF said that the surge in the company's profitability was driven by all the three businesses. Leading the tally was the Chemicals & Polymers Business which recorded 146% growth in its operating profit to Rs 86 crore on 54% increase in the segment revenue to Rs 320 crore in Q2 September 2014 over Q2 September 2013. Similarly, the operating profit of the Technical Textiles Business grew 11% to Rs. 52 crore and the operating profit of the Packaging Films Business grew 14% to Rs 16 crore in Q2 September 2014 over Q2 September 2013. The segment revenue for both the Technical Textiles Business and the Packaging Films Business, however, fell marginally by 4% each during Q2 September 2014. While the segment revenue for the Technical Textiles Business dropped to Rs 435 crore, the segment revenue of the Packaging Films Business reduced to Rs. 176 crore in Q2 September 2014.
Reflecting on the financial performance of the company, Ashish Bharat Ram, Managing Director, SRF, commented: The company's strategy of growing the Chemicals Business is paying dividends. Our traditional businesses should pick up once the economy rebounds.
SRF is a multi-business entity engaged in the manufacture of chemical based industrial intermediates.
Powered by Capital Market - Live News
