Shares of Meghmani Finechem zoomed 15 per cent today after the firm's net profit for the March quarter rose three times on a year-on-year basis. Meghmani Finechem stock hit all-time high of Rs 1,491 today, rising 15.26 per cent against the previous close of Rs 1,293.60. Meghmani Finechem stock has risen 28.23 per cent in two sessions.
The midcap stock opened with a gain of 4.98 per cent at Rs 1358 today. Meghmani Fineche stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The stock has zoomed 93.35 per cent since the beginning of this year and climbed 45.14 per cent in a week. Total 1.27 lakh shares of the firm changed hands amounting to a turnover of Rs 18.27 crore.
Market cap of firm rose to Rs 6,257 crore on BSE. The stock hit a 52-week low of Rs 386.35 on August 18, 2021.
The firm reported a 202.47 per cent rise in net profit at Rs 99.09 crore for the March quarter against profit after tax of Rs 32.76 crore during the corresponding quarter of the previous fiscal.
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Sales zoomed 92.92 per cent to Rs 498.80 crore in the quarter ended March 2022 against Rs 258.55 crore in the corresponding quarter of previous fiscal.
In the last fiscal, net profit climbed 150.68 per cent to Rs 252.79 crore in Q4 as against Rs 100.84 crore during the previous fiscal ended March 2021.
Sales climbed 87.18 per cent to Rs 1550. 94 crore in the last fiscal against Rs 828. 60 crore for the fiscal ended March 2021.
Operating profit excluding other income rose 94.97 per cent to Rs 509.49 crore in March 2022 fiscal against Rs 261.32 crore profit for the fiscal ended March 2021.
Meghmani Finechem Limited (MFL) is one of the leading producers of chlor-alkali and its derivatives with backward and forward integration facilities.
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