OCL India gains as Q1 profit nearly doubles

OCL India has rallied 6% to Rs 795 on the BSE after net profit of the company in June 2016 (Q1FY17) nearly doubled at Rs 105 crore, on the back of strong operational performance.

The company engaged in cement & cement products business had profit of Rs 54 crore in the same quarter year ago.

Total operational income during the quarter under review grew 4% at Rs 709 crore against Rs 679 crore in the corresponding quarter of previous year.

The company’s EBITDA (earnings before interest, depreciation and taxes) margin expanded 500 basis points to 25.3% from 20.4%.

At 10:26 am, the stock was up 5% at Rs 786 on the BSE, as compared to 0.13% rise in the S&P BSE Sensex. A combined 56,205 shares changed hands so far against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.

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