Shares of Mangalore Chemicals and Fertilizers Limited surged up over 8% on Tuesday morning to hit an intraday high of ₹113.95.
What Happened: The company on Monday evening posted its earnings for the quarter ended in September. The company’s bottom line swung back into the green territory at ₹67.70 crore during the July-September period. In the same period last year, the company had booked a loss of ₹32.18 crore.
The company’s revenue from operations grew multifold from ₹283.38 crore in the corresponding quarter of last year to ₹1,410.40 crore. On a sequential basis, the revenue was up 47% from the ₹958 crore booked in the June quarter.
The robust results helped the stock continue its three-session gaining streak on Tuesday. The Dolly Khanna-backed stock has had a mostly quiet year, as the stock is up around 26% from the start of the year. She has been a long-time investor in the company and owns a 1.21% stake in the company.
Price Action: Mangalore Chemicals and Fertilizers Limited shares were up 6.69% to trade at ₹110.90 in the early hours of trading on Tuesday.
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