SRF leads the gaines

SRF is currently the top gainer on BSE, up almost 12% or by Rs.74 at Rs.747, with an intra day high at Rs.757.95.

The stock is enthused by the very good set of numbers posted by the company for Q2FY15. Boosted by higher sales realization and cost rationalization, it ended the quarter with a 60% (YoY) jump in net profit at Rs.77 crore.  Net revenue of the company rose 9% at Rs.917 crore while other operating income rose 175%. Operating costs, as a percentage of net revenue came down from 90% to 86%. The market is celebrating two pointers – EBITDA margin rose by over 400 bps to 20.01% from 15.8% and its net profit for H1FY15 came in at Rs.176 crore, which is 81% of FY14 net profit. With two more quarters to go, clearly, SRF is headed to end current fiscal on a high note.