The cement maker reported over 13-fold increase in its consolidated net profit at Rs 69.21 crore for the September quarter of the current fiscal helped by lower expenses.
India Cements share price was up over 3 percent intraday on November 6 after the company declared its Q2 results.
The cement maker reported over 13-fold increase in its consolidated net profit at Rs 69.21 crore for the September quarter of the current fiscal helped by lower expenses. It had reported a net profit of Rs 5.07 crore in the July-September quarter a year ago.
Its total income during the quarter under review, however, declined 14.18 per cent to Rs 1,094.58 crore as against Rs 1,275.44 crore in the corresponding quarter of the last fiscal, India Cements said in a BSE filing.
The company's total expenses in the second quarter of the current financial year were down 22.83 per cent at Rs 980.83 crore as against Rs 1,271.02 crore in the corresponding period of the previous fiscal.
The stock was trading at Rs 125.80, up Rs 4.45, or 3.67 percent at 12:30 hours. It has touched an intraday high of Rs 128.95 and an intraday low of Rs 122.15.
The scrip also witnessed spurt in volume by more than 3.41 times and was trading with volumes of 236,335 shares, compared to its five day average of 50,558 shares, an increase of 367.45 percent.