Ester Industries jumsps over 6.5%

Ester Industries is up strongly in the green. The stock price is up almost 6.5% currently, at Rs.61, with an intra day high of Rs.61.25. Its 52-week high and low stands at Rs.72.75 and Rs.15.10 respectively. The market is extremely enthused with the company’s Q2FY16 performance.

A leading producer of polyester films and engineering plastic compounds, for the quarter, the company posted a jaw dropping 336% (YoY) at Rs.4 crore though net sales declined 16% to Rs.191 crore. What really helped was the 19% drop in costs and more than doubling of other income. A tax credit of Rs.1.6 crore also helped.