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Last Updated : Dec 13, 2016 03:37 PM IST | Source: Moneycontrol.com

Nahar Industries spikes 20% as profit jumps over 15-fold in Q2

Nahar Industrial Enterprises shares were locked at 20 percent upper circuit at Rs 118.25 on Tuesday after reporting more than 15-fold jump in bottomline due to strong operational performance.

 
 
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Moneycontrol Bureau


Nahar Industrial Enterprises shares were locked at 20 percent upper circuit at Rs 118.25 on Tuesday after reporting more than 15-fold jump in bottomline due to strong operational performance.


The textile manufacturer said profit in the quarter ended September 2016 increased to Rs 30.2 crore compared with Rs 2 crore in year-ago period.

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Revenue during the quarter grew by 11.6 percent to Rs 432.4 crore from Rs 387.4 crore in same quarter last year.


Operating profit shot up 57.3 percent year-on-year to Rs 66.8 crore and margin expanded by 440 basis points to 15.4 percent in Q2FY17 due to decline in raw material cost (down 4 percent) and depreciation expenses (down 27.4 percent).


Other income also increased substantially to Rs 1.69 crore from Rs 0.6 crore on yearly basis while finance cost declined to Rs 14.87 crore from Rs 18.04 crore.

Posted by Sunil Shankar Matkar



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First Published on Dec 13, 2016 03:37 pm
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