Moneycontrol
Feb 12, 2018 01:36 PM IST | Source: Moneycontrol.com

GSFC, Marksans Pharma, Sharda Motor, Zuari Agro rally 7-12% post strong Q3 earnings

Marksans Pharma's consolidated profit in Q3 shot up 51.5 percent to Rs 17.4 crore and revenue from operations grew by 1.5 percent to Rs 218.4 crore compared to year-ago.

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Shares of GSFC, Marksans Pharma, Sharda Motor and Zuari Agro Chemicals rallied 7-12 percent intraday Monday after posting strong set of earnings for quarter ended December 2017.

Gujarat State Fertilizers & Chemicals said net profit in Q3 grew multi-fold to Rs 199.6 crore compared to Rs 61.2 crore in year-ago and revenue from operations increased 39.4 percent to Rs 1,537.5 crore from Rs 1,103 crore.

The company has recorded tax write-back of Rs 99.9 crore for the quarter against nil in year-ago.

Its operating profit during the quarter doubled to Rs 161.5 crore from Rs 78.5 crore and margin expanded 340 basis points to 10.5 percent compared to same quarter last year.

Marksans Pharma's consolidated profit in Q3 shot up 51.5 percent to Rs 17.4 crore and revenue from operations grew by 1.5 percent to Rs 218.4 crore compared to year-ago.

Operating profit rose 7.7 percent year-on-year to Rs 28.8 crore and margin expanded 80 basis points to 13.2 percent for quarter ended December 2017.

Sharda Motor said its profit for October-December quarter jumped 44.9 percent to Rs 17.1 crore and revenue from operations increased 1.6 percent to Rs 254.4 crore compared to year-ago.

Operating profit rose 3.3 percent to Rs 32.1 crore and margin expanded 20 basis points to 12.6 percent YoY.

Zuari Agro Chemicals' Q3 profit grew multi-fold to Rs 48 crore from Rs 4.3 crore in corresponding quarter last fiscal. Strong revenue & operational growth and tax reversal boosted earnings.

It has reported minimum alternate tax credit at Rs 11.1 crore and tax credit at Rs 15.4 crore in Q3 against nil in year-ago.

Revenue from operations increased 46.3 percent year-on-year to Rs 1,434 crore while operating profit jumped 34.6 percent to Rs 125.7 crore, but margin contracted 70 basis points to 8.8 percent in Q3.

At 13:15 hours IST, the stock price of Zuari Agro Chemicals was quoting at Rs 532.60, up 7.97 percent and Gujarat State Fertilizers & Chemicals was at Rs 137.70, up 3.92 percent on the BSE.

Marksans Pharma was quoting at Rs 41.70, up 4.38 percent and Sharda Motor Industries was up 2.5 percent at Rs 2,440.
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