Finolex Industries jumps 15% after strong show in Q4

New Delhi: Shares of Finolex Industries jumped as much as 15 per cent in early trade on Monday after the company pulled up a strong show in the March 2021 quarter.

India’s largest manufacturer of PVC pipes and fittings reported a surge of 433.7 per cent in net profit to Rs 297.33 crore in Q4 as compared to Rs 55.71 crore in the quarter a year ago.

The scrip soared as much as 15 per cent to Rs 198.90 on Monday. However the counter was trading at Rs 189.20 at 10.05 am. The BSE Sensex was trading flat at 52,911.53 at the same time. The counter had settled at Rs 173.65 on Friday.

Finolex reported a rise of 62.5 per cent in the total income to Rs 1,249.34 crore in the quarter ended on March 31, 2021, against Rs 768.66 crore in the same quarter previous year.

The company has rewarded investors decently in recent years. The counter is up by 55 per cent in the last three months, while it has surged over 82 per cent in the last one year.

For the full financial year 2020-21, the company reported a net profit of Rs 728.02 crore, 125 per cent higher than the net profit of Rs 324.20 crore reported in the previous fiscal. Revenue during the period surged 16 per cent to Rs 3,462.82 crore.