Shares of Jubilant Industries rallied 20 per cent on the Bombay Stock Exchange on Friday after the Jubilant Bhartia group company reported higher-than-expected earnings for the first quarter ended June 30, 2019.

The agricultural chemicals maker posted consolidated net profit of Rs 9.55 crore against a net loss of 0.99 crore in the corresponding quarter last fiscal. The revenue surged 19 per cent to Rs 152 crore in Q1FY20 versus Rs 128.2crore in Q1FY19.

Boosted by strong Q1 earnings, Jubilant Industries share price gained as much as 20 per cent to hit an upper circuit of Rs 93.60. The stock posted its biggest percentage gain since June 14, 2018, to close at Rs 93.60, up by Rs 15.6 or 20 per cent, on the Bombay Stock Exchange. The scrip emerged ad top gainer in the B group stocks.

Since the beginning of this year, the share has tumbled 23.4 per cent as of last close level.

There was also surge in volume trade with 2836 shares traded on the counter as against the average volumes of 482 shares in the past two-weeks on the BSE.

In a similar fashion, Jubilant Industries shares surged 19.95 per cent to close at Rs 93.50 apiece on the National Stock Exchange.

Meanwhile, the 30-share barometer Sensex closed trade at 37,882.79, up by 51.81 points or by 0.14 per cent, and the NSE Nifty ended 32.15 points lower, or by 0.29 per cent, at 11284.3.

Edited by Chitranjan Kumar