Moneycontrol Bureau
Shares of Tamil Nadu Newsprint and Papers (TNPL) rallied 9.4 percent intraday Tuesday to hit a record high of Rs 217 on strong earnings in June quarter. Net profit grew by 96.9 percent year-on-year to Rs 51.6 crore on revenue growth.
Total income from operations increased by 33.4 percent to Rs 647.6 crore during the same period with operating profit rising 30 percent but margin contracted by 50 basis points.
Another paper manufacturing company JK Paper also registered smart growth in April-June quarter. It turned profitable during the quarter with net at Rs 16.8 crore against loss of Rs 22.5 crore in the year-ago period and revenue soared by 19.5 percent to Rs 585.3 crore. The stock surged 10 percent to hit multi-year high of Rs 46.80.
Plastic products manufacturer Nilkamal also touched a life high of Rs 1,009.25 on the Bombay Stock Exchange, up 9.55 percent after its profit in Q1FY16 rising 4.6-fold to Rs 25.3 crore and revenue showing a growth of 9.6 percent at Rs 457.5 crore.
BGR Energy, too, registered a whopping 23.9 percent growth in profit at Rs 11.4 crore during the same period with revenue up 40.9 percent at Rs 894.1 crore. The stock surged 15.8 percent intraday.
Styrolution ABS's first quarter bottomline climbed 3.5-fold to Rs 18 crore but revenue declined 1.6 percent to Rs 313.5 crore compared to a year-ago period. The stock jumped 10 percent to touch a new high of Rs 854.
However, PNB Gilts disappointed street with its June quarter earnings. The stock fell 10 percent as it posted a loss of Rs 3.2 crore against profit of Rs 26.7 crore in the corresponding quarter of last fiscal. Revenue, too, declined 30 percent to Rs 70.9 crore.
Redington India also registered a 33.8 percent decline in consolidated profit at Rs 81.1 crore and a 7.7 percent fall in revenue at Rs 7,570 crore on sequential basis. The stock slipped nearly 6 percent.
| Company | Last Price Rs | Change % |
| TNPL | 204.9 | 3.33 |
| JK Paper | 44.3 | 4.24 |
| Nilkamal | 976.5 | 6 |
| BGR Energy | 137.9 | 10.85 |
| Styrolution ABS | 828.5 | 6.35 |
| PNB Gilts | 27.6 | -8.61 |
| Redington | 114.4 | -2.56 |
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!