New Delhi: Shares of India Cements today surged to its 52-week high level after the company reported a 16 per cent jump in standalone net profit for the April-June quarter.
India Cements today posted a 16.34 per cent jump in standalone net profit to Rs 43.98 crore in the quarter ended on June 30. The company’s net profit during the same quarter a year ago stood at Rs 37.8 crore.
Reacting to the earnings shares of the company touched an intra-day high of Rs 130.80, which was also its 52 week high level and finally settled for the day at Rs 125.60, up 1.17 per cent on the BSE.
On NSE as well, similar trend was witnessed as the stock opened at Rs 124.95, then jumped to its 52-week high level of Rs 130.85 and closed at Rs 125.70.
Meanwhile, total income from operations decreased from Rs 1,225.7 crore in the year-ago period to Rs 1205.72 crore in the first quarter of the ongoing fiscal, the company in a regulatory filing said.
The financial results were approved by the company’s Board of Directors in a meeting held today.