Shares of leading tea-maker, Goodricke Group Limited are in good nick on Tuesday, following the company reporting a sharp jump in standalone net profit in the quarter ended June 2017.
The company said it posted a net profit of Rs 22.24 crore in the June 2017 quarter, up by an impressive 54.55%, compared to its net profit of Rs 14.39 crore in the year-ago quarter. Sales were up nearly 24% at Rs 152.16 crore in the first quarter, from Rs 122.77 crore in the corresponding quarter of the previous financial year. EBITDA was up 65.5% at Rs 23 crore and EBITDA margin increased to 15.1%, from 11.3 percent in the year-ago quarter.
For the year ended March 2017, Goodricke Group had posted a net profit of Rs 33.13 crore and reported a revenue of Rs 680.37 crore from operations.
The company's EPS for the three months ended June 2017 stood at Rs 10.3, as compared to Rs 6.66 in the corresponding quarter of the previous year. For the full year ended March 2017, the company saw an EPS of Rs 15.34.
The stock, which touched a high of Rs 251.90 this afternoon, had touched a low of Rs 162.10 exactly a year ago. The stock opened sharply higher on strong volumes this morning and despite moving in a tight range, holds in positive territory at Rs 245.30 with a handsome gain of 9.4%. Today, the stock has recorded its biggest single session gain in about 20 months.
On BSE, the Goodricke Group counter has clocked a volume of over 46,000 shares so far in the session, more than five times the average daily volume of around 8700 shares. The stock is not traded on the National Stock Exchange.
