Atul up around 11%

A part of the Sanjay Lalbhai group, Atul Ltd has been on the rise ever since it announced its Q1FY15 numbers yesterday, Today too, it is currently up over 11% at Rs.1347, and this is after hitting a new 52-week high today at Rs.1373. Volumes are up almost 5 times.

The stock is jumping high on the back of its current Q1 performance. It posted a healthy 50% (YoY) jump in its net profit at Rs.60 crore and sequentially, it was up 18%. The YoY jump in net profit is despite the fact that the company had a big other income of Rs.13 crore in previous Q1 and operating expenses in current Q1 have risen 20% (YoY). This surge in bottomline was purely on higher topline; net sales for the quarter came in at Rs.636 crore, up 25%. On the other hand, sequentially, net sales showed a drop of 2% but bottomline rose on account of lower operating costs, higher other income and 33% decline in interest outgo.