OCL India share price surged 16 per cent and hit fresh 52-week high of Rs 628 on Wednesday after the company reported 270.61 per cent rise in its net profit figures at Rs 133.53 crore for the fourth quarter ended March 2016 against Rs 36.03 crore in the same quarter a year ago.
The share price of the company soared 15.97 per cent up at Rs 609.75. The scrip opened at Rs 597 and touched a high and low of Rs 628 and Rs 581, respectively, in trade. However, the benchmark index BSE Sensex closed 69 points, or 0.27 per cent, down at 25,704.61.
Net sales of the company grew 24.19 per cent year-on-year (yoy) to Rs 820.51 crore for the quarter under review against Rs 660.67 crore in the corresponding quarter last year.
Operating profit of the company jumped 119.64 per cent yoy to Rs 255.57 crore in the latest quarter ended March 2016.
OCL India is engaged in manufacturing special refractories. The company operates in two segments: cement and refractory.