The paper products producers reported a net profit of Rs 47.28 crore in the quarter ended March 2021 as against a net loss of Rs 31.05 crore during the previous quarter ended March 2020.
The scrip soared 20 per cent, the upper circuit limit, to Rs 152.40 on Wednesday. BSE Sensex was down by 258.38 points or 0.50 per cent to 51,676.19 at the time of writing this copy. The counter had settled at Rs 127 on Tuesday.
Kolkata based company reported a jump of 9.82 per cent in sales to Rs 411.38 crore in the quarter. The company had reported a sales of Rs 374.58 crore in the same quarter previous year.
Shares of Emami Paper Mills have delivered a return of 150 per cent in just seven months, rallying from Rs 60 on November 4, 2020 to Rs 152.40 on Tuesday. The counter is just shy of its 52-week high at Rs 153.80, touched on March 18, 2021.
For the full fiscal, net profit reported to Rs 51.06 crore in the year ended March 2021 as against net loss of Rs 10.45 crore during the previous year. However, sales during the year declined by 19.74 per cent to Rs 1,216.27 crore.
