Sutlej Textiles shares surge over 12% on reporting 78% rise in Q4 net profit

By: | Updated: May 12, 2016 4:13 PM

Sutlej Textiles & Industries shares surged as much as 12.17 per cent in the early trade on Thursday after the company reported a 78 per cent rise in net profit at Rs 48.81 crore for the quarter ended March 2016

sutlej textilesSutlej Textiles shares surged as much as 12.17$ in the early trade on Thursday after the company reported a 78% rise in net profit at Rs 48.81 crore for the quarter ended March 2016 (Express photo by Ganesh Shirsekar)

Sutlej Textiles & Industries shares surged as much as 12.17 per cent in the early trade on Thursday after the company reported a 78 per cent rise in net profit at Rs 48.81 crore for the quarter ended March 2016, on the back of higher income from yarn and fabric segment. It has posted net profit of Rs 27.42 crore in the corresponding quarter last year.

At 9.27 am, shares of Sutlej Textiles were trading 8.24 per cent up at Rs 572.50 on BSE. The scrip opened at Rs 565 and has toucheda high and low of Rs 593.30 and Rs 565, respectively, in trade so far. Later, the scrip ended 12.25 per cent up at Rs 593.70.

Net income of the company jumped to Rs 549.62 crore during the January-March quarter, as against Rs 468.14 crore in the same quarter a year ago.

EBITDA of the company grew 13.40 per cent year-on-year to Rs 77.16 crore for the quarter under review. The company posted EBITDA of Rs 68.04 crore in Jan-March 2015 quarter.

The Board of Directors of the company has also recommended a Rs 13 per equity share for the year ended March 2016.

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