The company said exceptional income of Rs 51.25 crore is on account of effect of write back as per the sanctioned DRS of the company.
Ganesh Benzoplast has reported massive 18-fold rise year-on-year in its March quarter profit at Rs 58.2 crore, backed by one-time gain and operational income.
Profit in corresponding period last fiscal was at Rs 3.2 crore.
The company said exceptional income of Rs 51.25 crore is on account of effect of write back as per the sanctioned DRS of the company.
Revenue from operations in Q4 grew by 53.1 percent to Rs 47.8 crore compared to Rs 31.2 crore in same period last fiscal.
EBITDA (earnings before interest, tax, depreciation and amortisation) more than doubled to Rs 12.5 crore from Rs 5.7 crore and margin expanded 420 basis points to 22.6 percent compared to year-ago.
Ganesh Benzo said chemical division of the company has generated operational profit after a gap of almost 8 years, which is due to better capacity utilisation.
Long-term loan of the company has been reduced by Rs 95.2 crore, it added.
At 13:34 hours IST, the stock price was quoting at Rs 89.70, up Rs 3.10, or 3.58 percent on the BSE.