Manali Petrochemical soars after Q4 net profit climbs

The company has reported net sales of Rs190.5cr during the period ended March 31, 2018 as compared to Rs170.8cr during the period ended March 31, 2017.

May 17, 2018 07:05 IST India Infoline News Service

Stock Exchange
Shares of Manali Petrochemical climbed 20% after the company posted four-fold jump in its standalone net profit at Rs26.6cr in Q4FY18, on back of strong operational performance. The company had profit of Rs6.7cr in the corresponding quarter of previous fiscal.

The company has reported net sales of Rs190.5cr during the period ended March 31, 2018 as compared to Rs170.8cr during the period ended March 31, 2017.

The stock is currently trading at Rs41.55 up by Rs6.9 or 19.91% from its previous closing of Rs34.65 on the BSE. The scrip opened at Rs38.70 and has touched a high and low of Rs41.55 and Rs38.05 respectively.

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