Bannari Amman Sugars spurts on strong Q2 results

Last Updated: Thu, Nov 24, 2016 11:11 hrs
Sugar Mill

It's turning out to be a sweet session for Bannari Amman Sugars shares on the bourses this morning, with investors lapping up the stock thanks to upbeat quarterly results reported by the company.

Bannari Amman Sugars reported a net profit of Rs 45.4 crore for the quarter ended September 2016, up sharply from a net profit of Rs 3.8 crore it had posted in the corresponding quarter last year. Total income jumped 57.7% to Rs 588.2 crore in the July - September 2016 quarter, over the year-ago quarter.

The stock spurted to Rs 2025 on the National Stock Exchange (Rs 2023.95 on BSE), and is currently at Rs 1991, up nearly 6% from its previous closing price.

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